The national stock market closed about 1 percent higher on Tuesday, led by gains in financial and consumer goods stocks. Also, hopes for higher inflows after Morgan Stanley Capital Investment (MSCI) said it will implement the new regime on foreign ownership limits (FOL) on MSCI global indices containing Indian stocks in the November 2020 Semi-Annual Index Review , also boosted investor confidence.
Among the major indices, the S&P BSE Sensex rose 377 points, or 0.94 percent, to 40,522 levels, while the Nifty50 index ended at 11,889, up 122 points, or 1 percent. India VIX declined nearly 3 percent to 22.19 levels.
Among industry indices, the Nifty Private Bank Index gained the most, more than 3 percent to 13,756 points, while Nifty Bank added nearly 3 percent to 24,769.50. Nifty IT, on the other hand, was down more than 1 percent to 21,023 levels.
In the broader market, the S&P BSE MidCap Index gained 1.65 percent at 14,954 notches, while the S&P BSE SmallCap Index rose 0.6 percent to 15,090 notches.
Global markets
European stocks fell in early trading on Tuesday as risk aversion swept the markets, with a resurgence of coronavirus cases threatening global economic recovery and caution ahead of the November 3 US election.
The MSCI World Stock Index, which tracks stocks in 49 countries, is down 0.1 percent at the time of writing, having erased some losses overnight after falling to a 19-day low in the previous session. .
In commodities, oil prices rose to $ 41 a barrel as oil companies shut down some of the Gulf of Mexico oil production in the United States due to a hurricane, although rising coronavirus infections and rising the Libyan offer limited profits.
(With input from Reuters)
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