Stock markets edge higher amid volatile trade
Global oil benchmark Brent crude climbed 0.86 per cent to USD 82.92 a barrel.
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MUMBAI: Benchmark equity indices Sensex and Nifty ended higher on Tuesday due to heavy buying in index heavyweights like HDFC Bank, TCS and Reliance Industries amid mixed cues from Asian markets.
Witnessing a volatile trade, the 30-share BSE Sensex closed 165.32 points or 0.22 per cent higher at 73,667.96. During the day, the barometer surged 501.52 points to 74,004.16.
The broader Nifty ended almost flat at 22,335.70, registering a marginal increase of 3.05 points or 0.01 per cent.
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers.
State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
"The domestic market witnessed range-bound trading today after the previous day's sharp profit booking. However, mid and small-cap stocks remained pressured, primarily due to apprehensions regarding inflated valuations," Vinod Nair, Head of Research, Geojit Financial Services, said.
"Global sentiment remained mixed as investors awaited key US inflation data, which could offer insights into the Fed's interest rate decisions. Additionally, market participants are anticipating India's inflation figures scheduled for release today, to remain consistent with the previous month, which will be at the middle of RBI's tolerance range," he added.
Among Asian markets, Japan's Nikkei 225 lost 0.1 per cent and the Shanghai Composite index retreated, losing 0.4 per cent. Hong Kong's Hang Seng went up 3.1 per cent and South Korea's Kospi advanced 0.8 per cent.
Indices in european markets were trading higher during mid-session deals. Markets in the US ended on a mixed note on Monday.
Global oil benchmark Brent crude climbed 0.86 per cent to USD 82.92 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,212.76 crore on Monday, according to exchange data.
The BSE benchmark declined 616.75 points or 0.83 per cent to settle at 73,502.64 on Monday. The Nifty slumped by 160.90 points or 0.72 per cent to close at 22,332.65.
