We had mentioned in Monday’s closing report that Nifty and Sensex, which ended on a positive weekly note were headed upwards subject to dips. Indian equities markets on Tuesday were lifted by value buying, coupled with short covering and an appreciating rupee. However, the key indices provisionally closed on a flat-to-positive note, as gains were capped due to some selling pressure during the second half of trade. The Sensex touched a high of 26,587.07 points and a low of 26,354.66 points during the intra-day trade. The BSE market breadth was tilted in favour of the bulls with 1,585 advances and 1,012 declines.
Indian shares rose on Tuesday for a second consecutive session after the Reserve Bank of India said lenders had received Rs8.45 trillion in deposits. On Monday, the benchmark indices had ended on a flat note on the back of value buying and short covering.
Indian stocks climbed for a third day, but closed off the day’s high, led by a rally in automakers while banks continued to falter.
The S&P BSE Sensex gained 0.1% to 26,394 and the NSE Nifty advanced 0.2% to 8,142. The market breadth was in favour of the buyers at 1,034 advances, 580 declines and 268 stocks remaining unchanged.
The NSE Nifty Bank Index dropped 0.3 percent, making it the worst performing sectoral gauge on the exchange. The index has fallen 10 out of the last 12 trading sessions.
The top gainers and top losers of the major indices are given below:
Most European indices opened positive as investors await the outcome of the referendum over constitutional reforms in Italy.
The rupee edged higher by Rs0.13 to Rs68.64 against the U.S. dollar at the forex market in early trade today on fresh selling of the American currency by exporters and banks.
The rupee yesterday had tumbled by Rs0.30 to end at a fresh 2016 low of Rs68.76. It had hit an intraday low of 68.80 mainly due to deteriorating sentiment and worsening impact of fund outflows. The rupee has shed 3.95% of its value since the beginning of 2016.
Weakness of the dollar against some currencies overseas and early gains in the domestic equity market supported the rupee today, dealers said.
Foreign investors have pulled out close to $5 billion from the capital markets in November so far amid concerns over the impact of demonetisation mingled with an imminent rate hike by the U.S. Federal Reserve.
The closing values of the major Asian indices are given in the table below: