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- BPCL extends losses into 3rd day as Centre calls off privatisation process
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- ONGC tumbles 6% to hit four-month low; stock down 27% from 52-week-high
- Page Industries gains 8% on strong operational performance in March quarter
- Muthoot Finance sinks 9% on weak Q4 result; analysts bearish on stock
- Paradeep Phosphates lists at 4% premium; extends rally to gain up to 13%
- Piramal Enterprises dips 10%, hits 52-week low post March quarter results
Financials lead in Sensex's 584 pts rally, tops 51K; BPCL dips 4.5%
The broader markets were under pressure today with the S&P BSE MidCap and SmallCap indices closing 0.6 per cent and 0.4 per cent down, respectively
Stock market updates: Financial and IT counters did the heavylifting today, and managed to keep the equity markets in the green on Tuesday. Most of the key sectoral indices on National Stock Exchange (NSE) ended the day in the red with the Nifty Metal index down 2.5 per cent at close, followed by the Nifty PSU Bank, Pharma, Realty, Media, and Auto indices, down between 0.5 per cent and 1.5 per cent. The Nifty Financial Services, Bank, and IT indices were the only gainers, up 2 per cent, 1.8 per cent, and 1 per cent, respectively.
Supported by gains in HDFC Bank, Kotak Mahindra Bank, HDFC, ICICI Bank, Asian Paints, HUL, and Bajaj Finance, the headline S&P BSE Sensex ended 584.4 points, or 1.16 per cent, higher at 51,025 levels. The index topped the 51,000-mark in the intra-day deals and hit a high of 51,112.
On the NSE, the Nifty50 closed near the 15,100-mark at 15,098 levels, up 142 points or 0.95 per cent. Around 23 stocks declined on the Nifty index, as against 27 stocks that advanced. Of these, BPCL, Tata Steel, GAIL, Indian Oil, Tata Motors, Power Grid, and Cipla were the top drags.
The broader markets were under pressure today with the S&P BSE MidCap and SmallCap indices closing 0.6 per cent and 0.4 per cent down, respectively.
Asian stocks recovered from earlier losses on Tuesday, lifted by firmer US equity futures and central bank comments aimed at soothing fears about rising by inflation. A pullback in US bond yields also buoyed equity markets.
Japan's Nikkei rallied 1.02 per cent on Tuesday afternoon, while MSCI's broadest index of Asia-Pacific shares outside Japan was 0.10 per cent higher. Chinese blue chips added 0.03 per cent.
In Europe, however, the pan-European STOXX 600 was down 0.1 per cent in early deals, with miners falling 1.9 per cent and automakers dropping 1 per cent. The German DAX also eased 0.3 per cent.
(With inputs from Reuters)