It closed with a slight rise on the second trading day of the week i.e. Tuesday. Stock market benchmark indices Sensex and Nifty rose for the third consecutive session on Tuesday due to strengthening global cues and optimism over the India-US trade agreement, although investors started booking profits at higher levels. The rupee closed 9 paise higher at 90.57 against the US dollar.
The 30-share BSE Sensex closed 208.17 points or 0.25 per cent higher at 84,273.92. During the session, the benchmark jumped 417.2 points or 0.49 per cent to hit an intraday high of 84,482.95.
The 50-share NSE Nifty closed at 25,935.15, up 67.85 points or 0.26 per cent. In the intraday session, the index rose 122.15 points or 0.47 per cent to an all-time high of 25,989.45.
Condition of Sensex companies
Eternal, Tata Steel, Mahindra & Mahindra, PowerGrid, Tech Mahindra, NTPC, Larsen & Toubro, Tata Consultancy Services, Maruti Suzuki India, Axis Bank, Titan and Hindustan Unilever were among the gainers in the Sensex pack. On the other hand, HCL Technologies, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC Bank, UltraTech Cement, Adani Ports and ITC were among the laggards.
Due to these reasons the domestic market continues to rise
Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic stock markets continued to rise due to the US trade agreement and positive signals from major Asian markets. The strong surge in investment by foreign investors and the strengthening of the rupee are further boosting investor morale, although intermittent profit-booking was also seen in various sectors.
He further said that with tariff concerns having largely subsided, market direction in the near term is expected to depend on third quarter earnings, which so far have been mixed and below expectations.
Nair said investors are now focusing on the combined impact of recent fiscal and monetary measures to revive earnings momentum in the coming quarters.
There was a rise in European markets
In Asian markets, Japan’s Nikkei 225 index, Hong Kong’s Hang Seng, South Korea’s Kospi and Shanghai’s SSE Composite index closed in positive territory. European markets were mostly up in mid-session trading. The American stock market also closed with a rise on Monday.
The price of Brent crude fell to US $ 68.89 per barrel.
Global oil benchmark Brent crude fell 0.20 per cent to US$68.89 per barrel. Meanwhile, foreign institutional investors bought shares worth Rs 2,254.64 crore on Monday, according to exchange data. On Monday, the 30-share BSE Sensex closed 485.35 points higher at 84,065.75, while the 50-share NSE Nifty closed 173.60 points higher at 25,867.30.
