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MARKET WRAP: Benchmarks snap 2-day losing streak, Sensex gains 193 pts

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
After witnessing losses for two consecutive sessions, investors flocked equities on Tuesday in the wake of no major escalation between Iran and the United States. Indices, however, pared gains after reports suggested that Iran has labelled the entire US troop as "terrorists" and was exploring options to avenge Qassem Suleimani's assassination. 

Investors were also awating advance estimates of FY20 gross domestic product (GDP) expected to be released, by the government, later in the day. 

The benchmark S&P BSE Sensex scaled 553.51 points in the intra-day trade to hit a high of 41,230.14 levels. The index, however, settled at 40,869.47 level, up 192.84 points or 0.47 per cent. Ultratech Cement, NTPC, Reliance Industries, and HDFC Bank, up between 1.5 and 2.1 per cent, were the top gainers on the 30-share index at close. On the downside, Infosys, Hero Motocorp, Bharti Airtel, Nestle ended the day as top losers. 

India VIX, the index to gauge the volitality, shot up as much as 18 per cent in the intra-day trade today.

On the NSE, the Nifty50 closed at 12,052.95-mark, up 59.90 points or 0.50 per cent. The index hit an intra-day high of 12,152.15. On the sectoral front, all the major indices settled with over 0.5 per cent gains. Nifty Realty index edged 1.9 per cent higher, followed by Nifty Media, up 1 per cent.

In the broader market, small-caps outperformed the frontline indices at close. The S&P BSE small-cap index ended 1.05 per cent higher at 13,858.68, while the S&P BSE mid-cap index closed 0.7 per cent higher at 14,867.07. 

GLOBAL CUES

Asian shares rebounded on Tuesday as investors’ reassessed the risk of an all-out conflict between the United States and Iran. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent, Japan’s Nikkei rallied 1.4 per cent, and Shanghai blue chips 0.5 per cent. 

In Europe, the pan European STOXX 600 Index rose about 0.6 per cent by 2:41 pm, with German stocks outperforming most peers.

In the commodities market, Brent Crude Futures were at $68.56, down 0.5 per cent in the late afternoon trade.

(With inputs from Reuters)

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