Sensex, Nifty eke out gains; energy, IT stocks save the day
Sensex, Nifty eke out gains; energy, IT stocks save the day

The markets opened on a positive note tracking gains in index-heavyweights Reliance Industries, HDFC twins and ICICI Bank, amid a positive trend in global equities. The Sensex gained 362.27 points, up 0.67 percent at 52,936.73. The Nifty50 was up 111.30 or 0.71 percent at 15,857.80 at the opening bell.

After touching a lifetime intra-day peak of 52,957.13, the 30-share BSE index was trading 374.92 points or 0.71 per cent higher at 52,949.38 in initial deals. Similarly, the broader NSE Nifty surged 115.05 points or 0.73 per cent to 15,861.55.

Maruti was the top gainer in the Sensex pack, rising over 2 per cent, followed by M&M, L&T, TCS, ICICI Bank, SBI and HDFC twins.

On the other hand, Nestle India and Bajaj Finance were the laggards.

In the previous session, Sensex ended 230.01 points or 0.44 per cent higher at 52,574.46. Similarly, the Nifty advanced 63.15 points or 0.40 per cent to 15,746.50.

Wall Street rallied on Monday with the Dow completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,244.71 crore on Monday, as per provisional exchange data.

Asian markets up

Asian markets rose in Tuesday morning trade, with shares in Japan leading gains among the region's major markets. Nikkei 225 jumped 2.33 percent in morning trade. The Topix index gained 2.53 percent.

Two regional Federal Reserve officials said on Monday that a faster withdrawal from the central bank's bond purchase program could give it more leeway in deciding when to raise interest rates.

Quarterly results today

Key companies announcing their quarterly results today include Bharat Electronics, Max India, Sobha and Religare Enterprises. Immediate support and resistance for Nifty 50 are 15,500 and 15,900 respectively. We expect the markets to be volatile for a few more sessions but with limited downside

Fuel prices at record high

Petrol and diesel prices were raised by 25 to 28 paise. In Mumbai, petrol is at an all-time high of Rs 103.63 a litre, up 27 paise. Diesel is up 28 paise at Rs 95.72 per litre.

In Delhi, petrol is up 28 paise at 97.50 and and diesel is up 26 paise at Rs 88.23. In Chennai, fuel prices are up 25 paise each. Price of petrol is Rs 98.65 per litre and diesel was Rs 92.83 per litre. In Kolkata, petrol is retailed at Rs 91.08 in West Bengal’s capital. Diesel is up by 26 paise at Rs 97.38 per litre.

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