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Sensex ends 221 pts higher; Consumer Discretionary index hits record peak
Asian Paints, Axis Bank, ICICI Bank, Britannia Industries, SBI Life, and Indian Oil Corporation ended the day as the top gainers
Stock market updates: Domestic equity indices ended a range-bound trade in the positive zone on Tuesday as positive global mood and a steady decline in Covid-19 cases in the country supported sentiment. An across-the-board buying lifted benchmarks to new lifetime highs in early deals today where the S&P BSE Sensex touched 52,869.5 levels while the Nifty50 index surpassed the 15,900-mark to quote at 15,902.
By close, the BSE barometer was at 52,773 levels, up 221 points or 0.4 per cent. The 50-share index, on the other hand, was at 15,869 levels, up 57 points or 0.36 per cent.
Indices' breadth was 1:1 where Asian Paints, Axis Bank, ICICI Bank, Britannia Industries, SBI Life, and Indian Oil Corporation ended the day as the top gainers, up between 1 per cent and 3 per cent. Divis Labs, Coal India, Hindalco, Bajaj Finserv, Sun Pharma, and Dr Reddy's Labs, meanwhile, were the top laggards, down up to 1.6 per cent.
In the broader markets, the BSE MidCap index settled the day 0.6 per cent higher amid gains in GMR Infra, Future Retail, Whirlpool of India, and Crisil. The BSE SmallCap index too gained 0.4 per cent propelled by gains in Srei Infra, Reliance Industrial Infrastructure, Insecticides, and Action Construction Equipment.
Sectorally, the Nifty Pharma, PSU Bank, and Metal indices were the losers on the NSE, down 0.8 per cent, 0.26 per cent, and 0.05 per cent, respectively. On the upside, the Nifty Media index (up 2 per cent) and the Nifty Realty index (up 1.3 per cent) were the top gainers.
World stocks hit yet another record high on Tuesday, with European stocks poised for their longest winning streak since 2019 as investors bet likely “transitory” inflation pressures will stay the US Federal Reserve’s hand from signalling a shift in policy settings.
A majority of investors surveyed by BofA said inflation was transitory, a marked change from March, when worries about more sustained price rises had sent U.S. 10-year Treasury yields surging to nearly 1.8 per cent.
Abating worries about inflation helped US and European shares scale new highs, with the pan-regional STOXX 600 rising 0.4 per cent. In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan trading flat. Japan's Nikkei rose 1 per cent and the Australian benchmark traded up 0.93 per cent, but Chinese blue chips fell 1.1 per cent.
(With inputs from Reuters)
(With inputs from Reuters)