Stock Market News: The Indian stock market closed firmly for the fourth consecutive day on Tuesday. There was a positive trend in the market with the support of shopping and domestic institutional investors (DII) in major banks. The BSE’s 30 -share index Sensex rose 136.63 points (0.17%) to close at 81,926.75 points. During the trading, the Sensex had climbed to 82,309.56 points at one time, but its growth was limited due to profits at a high level. At the same time, NSE’s Nifty 50 index closed at 25,108.30 points with a gain of 30.65 points (0.12%).
Major benefits and disadvantage shares
The shares of Bharti Airtel, HCL Tech, UltraTech Cement, Power Grid, HDFC Bank, Bajaj Finance, Tata Steel and ICICI Bank gained an edge among the Sensex group companies. At the same time, there was a decline in Axis Bank, Tata Motors, Trent and Infosys.
Vinod Nair, head of research from Geojit Investments Limited, said that the domestic stock market opened firmly due to favorable global cues, but the an average results of the second quarter were limited by the possibility of average results. He said that the market will now monitor the chances of getting better in the third quarter.
Ajit Mishra, Senior Vice President (Research), Railor’s Broking Limited, said that there was a fluctuation in the market after a recent rise. Realty, pharma and energy shares were seen good purchases at the sectoral level, while FMCG and metal stocks declined.
Sectoral performance
The telecom index gained 2.13% of the highest. The realty sector recorded 1.09%, and the energy sector recorded a gain of 0.47%. On the other hand, FMCG, IT, commodities and banking sectors saw a decline. The BSE midcap index rose 0.45%, while the smallcap index fell 0.15%.
On Monday, FII (foreign institutional investors) sold shares worth Rs 313.77 crore, while DII (domestic institutional investors) made a strong purchase of Rs 5,036.39 crore.
Global market and oil prices
Japanese’s Nikki closed positive in Asian markets, while China and South Korea remained closed due to market holidays. European markets were trading in mixed trend and the American markets closed on Monday. Global oil standard brant crude fell 0.15% to $ 65.37 per barrel.
In the last four trading sessions, the Sensex has climbed 1,659.13 points (2.06%), while the Nifty has gained 497.2 points (2.02%). Overall, the Indian stock market closed on the green mark for the fourth consecutive day due to the strength of banking and telecom shares, tremendous purchases of domestic investors and favorable global environment.
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