Stock Market Updates: The bulls were back in action on D-Street after a five-day hiatus, as a drop of more than 4 percent in the past five sessions addressed investor concern on the valuation front. That said, rising Brent crude (now over $ 66 a barrel), bond yields, and earnings concerns limited by commodity-induced inflation.
Among the key indices, the benchmark S&P BSE Sensex index closed at 49,751 levels, an increase of 7 points or 0.01 percent. The index had passed the 50,000 mark in intraday trading and had peaked at 50,327 on the BSE. 21 of the 30 voters ended the day green with ONGC (up 5.6 percent), IndusInd Bank (up 2.6 percent), L&T (up 2 percent), and UltraTech Cement (up 17 percent). cent) topping the list of winners.
On the downside, Kotak Mahindra Bank (down 3.7 percent), Maruti Suzuki (down 1.6 percent), HDFC Bank (down 1.5 percent) and Bajaj Auto (down 1 , 2 percent) ended the day as the main laggards.
Meanwhile, gains of more than 6 percent at Tata Steel and Tata Motors each, and gains of 5 percent at Hindalco, ONGC, and UPL helped the Nifty50 index close above the 14,700 mark at 14,708 levels, 32 points or 0.22 percent. The index reached an intraday high of 14,854.
In the broader markets, the Nifty MidCap 100 and SmallCap 100 indices closed with gains of around 1 percent on the NSE.
On the sector front, only select financial and pharmaceutical stocks traded weakly on the exchanges today, with the Nifty Private Bank and Financial Services indices falling half a percent at the close. On the upside, the Nifty Metal Index was up 3.8% while the Nifty Realty Index closed 2.6% at the close.
Global markets
Asian stocks rebounded from two-week lows on Tuesday, as rising commodity prices boosted market expectations of an improved growth outlook, a day after rising bond yields from the US Treasury
MSCI’s broader Asia-Pacific stock index outside of Japan advanced 0.4% to 726.6, the Australian S & P / ASX 200 index rose almost 0.9%, while the Straits Times index of Singapore rose 0.6% and Taiwan 0.2%. Other than that, Hong Kong advanced 1 percent, but South Korea’s tech-laden Kospi lost 0.3 percent.
The Japanese markets were closed for public holidays.
In Europe, however, Germany’s DAX fell 1.3 percent, while Spain’s CAC40 index fell 0.08 percent. London’s FTSE100, on the other hand, was up 0.05 percent.
(With input from Reuters)
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