The key benchmark indices had a positive start on Tuesday. At 09:16 IST, the Sensex was up 269.23 points or 0.47 per cent at 57435.97, and the Nifty was up 92.80 points or 0.54 per cent at 17266.50. About 1687 shares have advanced, 328 shares declined, and 65 shares are unchanged.
Among the Sensex-30 shares, Ultratech Cement, Bajaj Twins, Tata Steel, L&T, HUL, Axis Bank and Titan were the leading gainers, up 1-1.5 per cent. HDFC twins, Infosys and Bharti Airtel, meanwhile, were the only losers. In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.97 per cent.
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Sectorally, Nifty Metals, Auto, PSBs and Energy packs were the leading winners, up 0.9 per cent each. While, Nifty FMCG, IT and Financials were subdued.
Among stocks, Mindtree opened in green but soon turned negative, and was down 1.6 per cent. The company’s net profit jumped 49 per cent YoY in Q4, while its revenue rose 37.4 per cent to Rs 2,897 crore.
“Nifty50 has approached an important cluster. We remain hopeful of some recovery till the time 17,000 is defended successfully. On the flipside, Monday’s bearish gap area of 17,250-17,450 is likely to act as an immediate hurdle now. As of now, we expect the index to sustain the range for at least a couple of days, before breaking out of this congestion zone,” said Sameet Chavan of Angel One.
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After four days of massive break, on Monday, markets started the week on a miserable note, taking unfavorable global cues into a consideration. The weakness extended as the day progressed and in the process, the Nifty went on to slide below 17,100. Fortunately, some respite was seen at lower levels and due to modest recovery towards the end, the Nifty ended the session with over 1.70 per cent cut, a tad below the 17,200 mark.
Global Cues
US stocks closed slightly lower after a wobbly day of trading Monday, as worries about interest rates and inflation keep a lid on Wall Street despite some better-than-expected profit reports. The S&P500 slipped less than 0.1 per cent. Like it, the other two major U.S. stock indexes also rolled between small gains and losses Monday. The Dow Jones Industrial Average and Nasdaq each fell 0.1 per cent.
Tokyo stocks opened higher on Tuesday as investors bargain-hunted shares that dipped after modest falls on Wall Street. The benchmark Nikkei 225 index was up 1.04 per cent, or 278.29 points, at 27,078.00 in early trade, while the broader Topix index gained 0.94 per cent, or 17.64 points, to 1,897.72.
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Hong Kong stocks slid down in early trade on Tuesday after a four day holiday weekend, tracking growth concerns in China and modest falls on Wall Street. The Hang Seng Index fell 1.78 per cent, or 382.28 points, at 21,135.80. The Shanghai Composite Index rose in early trade, up 0.15 per cent, or 4.71 points, at 3200.24, while the Shenzhen Composite Index edged up 0.51 per cent, or 10.31 points, to 2032.83.
