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MARKET WRAP: Sensex ends 130 pts higher, Nifty tops 11,900; IT stocks rally

In the broader market, S&P BSE Mid-Cap ended 56 points, or 0.38 per cent higher at 14,945 levels while the S&P BSE Small-Cap gained 0.52 points to settle at 14,283 levels.

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Domestic indices ended Tuesday's volatile trade with gains. The indices traded in the red for better part of the day, tracking concerns on weak global growth across world markets coupled with rising trade tensions. 

The losses were, however, pared against last hour buying in select stocks such as HDFC twins, Infosys, Reliance and ONGC.

The S&P BSE Sensex ended 130 points, or 0.30 per cent, higher at 39,816 levels with ONGC, HDFC and Bharti Airtel being the top gainers. The broader Nifty50 too settled with gains of 45 points, or 0.38 per cent, at 11,910 levels.

In the broader market, S&P BSE Mid-Cap ended 56 points, or 0.38 per cent higher at 14,945 levels while the S&P BSE Small-Cap gained 0.52 points to settle at 14,283 levels.

Sectorally, realty scrips were under pressure with the index with ending 1.5 per cent lower. This was followed by losses in pharma and bank counters. Nifty IT index settled nearly a per cent higher followed by metal index, up 0.52 per cent. 

BUZZING STOCKS

Shares of ICRA slipped nearly 6 per cent to Rs 3,027 apiece in the opening deals on Tuesday, a day after the board of rating agency asked its Managing Director (MD) and Chief Executive Officer (CEO) Naresh Takkar to go on indefinite leave, pending an enquiry into concerns raised by the market regulator the Securities and Exchange Board of India (Sebi). READ MORE

Cox & Kings shares were locked in the 5 per cent lower circuit in the early trade on the BSE on Tuesday to quote at an all-time low price of Rs 32.95 apiece after it defaulted on Rs 50 crore commercial paper. The stock has now fallen for six consecutive trading sessions. READ MORE

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GLOBAL CUES

Asian shares ended mixed on Tuesday amid worries that the global economy was faltering. US President Donald Trump said on Monday that any trade deal with China would need to be “somewhat tilted” in favour of the United States. Washington also threatened tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies.

Japan's Nikkei ended 0.11 per cent higher while South Korea's Kospi settled 0.36 per cent lower. 

Oil prices slipped on Tuesday as concerns that the global economy could be slowing outweighed an agreement by producer club OPEC on Monday to extend supply cuts until next March. Brent crude futures were down 0.28 per cent at $64.88 a barrel by 2:15 pm.

(With inputs from Reuters)