Mumbai– Indian equity markets closed higher for the second straight session on Tuesday, supported by sustained buying in information technology, auto, metal and FMCG shares, along with positive global cues following the U.S. Senate’s passage of legislation to end the country’s longest federal government shutdown.
The Sensex closed at 83,871.32, rising 335.97 points or 0.40 percent. The benchmark index opened higher at 83,671.52, compared to the previous close of 83,535.35, and climbed to an intraday high of 83,936.47. The Nifty finished at 25,694.95, up 120 points or 0.47 percent.
“The domestic market opened on a subdued note amid concerns over the implications of the explosion in Delhi. However, it recovered smartly and closed at the day’s high, supported by global cues after the U.S. Senate passed a bill ending the federal shutdown,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nair added that the ongoing quarterly earnings season is nearing its conclusion and is likely to end on a positive note, driven by stronger performance across a broader set of companies.
Among major gainers on the Sensex were BEL, Adani Ports, Mahindra & Mahindra, HCL Tech, Bharti Airtel, Infosys, Sun Pharma, Hindustan Unilever, L&T, Tech Mahindra and TCS. Bajaj Finance, Bajaj Finserv, and Tata Motors’ passenger vehicle division were among the few notable laggards.
Most sectoral indices closed in positive territory. Nifty IT gained 1.20 percent, Nifty Auto rose 1.07 percent, Nifty FMCG increased 0.34 percent and Nifty Bank climbed 0.35 percent.
Performance in the broader market was mixed, with midcap stocks rising while smallcaps saw some selling pressure. The Nifty Midcap 100 rose 302 points or 0.50 percent, while the Nifty Smallcap 100 fell 37 points or 0.21 percent. The Nifty 100 index closed 109 points higher, up 0.42 percent. (Source: IANS)
