After languishing in the red for the better part of the day, domestic equity markets zoomed higher in the last hour of trade amid solid buying in Reliance Industries’ stock, and IT and auto pack.
The frontline S&P BSE Sensex bounced back 1,059 points from the day’s low of 56,930 to settle at 57,989, up 697 points or 1.22 per cent. The index had touched an intra-day high of 58,053.
On the NSE, the Nifty50 closed at 17,315.5, up 198 points or 1.16 per cent. The ondex touched an intra-day low of 17,006 and a high of 17,334.
Reliance Industries was among the top gainers today, rising 2.5 per cent on the Sensex. The stock hit an over 2-month high of Rs 2,535 before settling at Rs 2,530.
Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Kotak Bank, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers, up in the range of 1 to 4 per cent.
On the downside, HUL, Nestle India, Britannia, and Cipla were the top laggards, slipping between 2 and 3 per cent.
In the broader market, the BSE MidCap and SmallCap indices eked out minor gains of 0.2 per cent each.
Among individual stocks, the shares of One97 Communications, the parent company of digital payments major Paytm, continued to remain under pressure and hit a new low at Rs 541, down over 4 per cent on the BSE in Tuesday’s intra-day trade, on the back of heavy volume. In the past one month, the stock has tanked 32 per cent owing to persistent negative news flow. READ MORE
On the slipside, the shares of Equitas Holdings (EHL) and its subsidiary Equitas Small Finance Bank (ESFBL) gained up to 10 per cent on the BSE in Tuesday’s intra-day trade after their respective boards approved the merger of the two. READ MORE
Moreover, the shares of New Delhi Television (NDTV) were locked in the upper circuit band for a second straight day, up 5 per cent at Rs 238.15, also its highest level since October 2008, on the BSE on Tuesday. In the past four trading days, the stock of the broadcasting & cable TV operator has zoomed 47 per cent. READ MORE
Sectorally, the Nifty Realty fell 1 per cent while the Nifty FMCG index dipped 0.7 per cent. The Nifty IT index rose 2 per cent and the Nifty Auto index added over 1 per cent.
