INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Buying by domestic institutional investors in the backdrop of easing macro cues such as recovery in the rupee and easing crude
oil prices, helped market log gains on Tuesday
After plunging 34 paise on Monday, Indian rupee recovered on Tuesday against the US dollar
At the time of writing this report, the rupee was trading 15 paise up
Gains in pharma, IT, auto and oil gas stocks kept the market up even as global cues remained mixed.
Sensex opened with a tepid gain and
soon turned red following Asian peers
However, it staged a rebound and climbed 181 points to touch the intraday high of 35,445
The headline index eventually closed the day at 35,379, up by 114 points, or 0.32 per cent, with 18 stocks advancing and 13 declining in
trade.
The Nifty50 clocked a gain of 43 point, or 0.40 per cent, settling at 10,700, with 32 stocks in the green, 17 in the red and one
Broader BSE Midcap and smallcap indices outperformed Sensex with gains of 0.69 per cent and 0.44 per cent, respectively.
Sun Pharma,
Maruti, Infosys and ONGC featured among the top gainers in the Sensex kitty, while Vedanta, ICICI Bank, HDFC and State Bank of India stood
as the top losers in the index.
Shares of Infosys hit fresh 52-week highs of 1,358 on Tuesday, eventually closing the day at Rs 1,353.65, up
Shares price of the company have rallied around 30 per cent on a year-to-date basis
The scrip was at Rs 1,034.6 on January 1 this year
Falling rupee has lifted IT stocks in the recent past
ONGC jumped 1.28 per cent after the company's board has given in-principle approval for exploring options for a restructuring of the group
firms including the merger of subsidiaries MRPL and HPCL.
Hero MotoCorp climbed 1.07 per cent on reports that the company sold 7,04,562
two-wheeler units in June 2018, a 13 per cent increase from 6,24,185 units sold in June 2017.
Shares of Jindal Steel and Power closed the
day nearly 1 per cent up on news that it has achieved highest ever first quarter domestic steel production
On the other hand, Vedanta plunged 3.25 per cent, settling at Rs 230.95 after the group's decision to delist Vedanta Resources from the LSE
in $1.1 billion share buyback
Among the sectoral indices, BSE Metal and BSE Bankex declined 0.27 per cent and 0.19 per cent, respectively, while consumer durables,
capital goods, telecom and finance settled with nominal losses.
European shares edged higher on Tuesday, while Asian shares too recouped
some of their losses, Reuters reported.
Major European markets were trading nearly 1 per cent up at the time of writing this report
Shanghai SE Composite Index closed with a gain on 0.41 per cent, but Hang Seng suffered a loss of 1.41 per cent.
