In early trade on Tuesday, the Sensex rose 55 points, tracking gains in index heavyweights HDFC twins, Bajaj Finance and Infosys, despite continued foreign fund outflows. In early deals, the 30-share BSE index was trading 55.46 points (0.10 percent) higher at 52,935.46. Similarly, the Nifty 50 index rose 24.05 points(0.15 percent) to 15,858.40.
With a gain of 0.69 percent, UltraTech Cement led the Sensex pack, followed by HDFC Bank, Maruti, Tata Steel, Titan and Bajaj Auto, HDFC, M&M, L&T and Bajaj Finance. In early trading, Infosys was up 0.06 percent. Sun Pharma, TCS, HUL and Reliance Industries, on the other hand, were among the laggards.
The BSE Sensex closed 395.33 points (0.75 percent) higher at 52,880 in the previous session. Similarly, the NSE Nifty increased by 112.15 points (0.71 percent) to 15,834.35. According to provisional exchange data, foreign institutional investors (FIIs) remained net sellers in the capital market on Monday, offloading shares worth Rs 338.43 crore.
‘Domestic equities appear to be quiet at the moment. The sharp rise in crude prices, as well as the strengthening dollar index, have weighed on sentiments in recent days. Expectations of a further rise in crude prices, combined with the failure of the OPEC meeting to reach an agreement on ease of production, could further dampen sentiments’ Reliance Securities’ Head of Strategy, Binod Modi, stated.
Meanwhile, Brent crude, the international oil benchmark, rose 0.32 percent to USD 77.41 per barrel.
In other Asian markets, Seoul and Tokyo bourses were up, while Shanghai and Hong Kong were down in mid-session deals.
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