Market snaps five-day losing streak; Nifty inches close to 24,500
At close, the Sensex was up 602.75 points or 0.76 per cent at 80,005.04, and the Nifty was up 158.35 points or 0.65 per cent at 24,339.15.
At close, the Sensex was up 363.99 points or 0.45 per cent at 80,369.03, and the Nifty was up 127.60 points or 0.52 per cent at 24,466.80.
Benchmark indices extended the gains on a second straight session on Tuesday in a volatile period led by realty and financial stocks.
At close, the Sensex was up 363.99 points or 0.45 per cent at 80,369.03, and the Nifty was up 127.60 points or 0.52 per cent at 24,466.80.
Mid- and small-cap indices experienced a strong rebound, with the Nifty Midcap 100 gaining 1 per cent and the Nifty Smallcap 100 rallying 0.85 per cent.
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On Nifty, SBI, Bharat Electronics, SBI Life Insurance, HDFC Life, ICICI Bank were among the top gainers. On the losing side were Tata Motors, Dr Reddy’s Labs, Maruti Suzuki, Hero MotoCorp and Bajaj Auto.
SBI led the way gaining 5.3 per cent followed closely by Bharat Electronics, Eicher Motors, SBI Life Insurance, Bajaj Auto, HDFC Life Insurance, and eight other stocks, each recording gains of over 1.5 per cent.
Maruti Suzuki India slumped 4.2 per cent, while Tata Motors dropped 3.9 per cent, and Hero MotoCorp slumped 2.9 per cent.
Over 130 stocks touched their 52-high on the BSE. These included AMI Organics, Anup Engineering, CARE Ratings, CarTrade Tech, City Union Bank, Deepak Fertilizers, Gillette India, Indigo Paints, Krsnaa Diagnostics, MCX India, Piramal Pharma, Sharda Crop, SJS Enterprises, Thyrocare Technologies, Wockhardt, among others.
Auto stocks experienced a sharp decline, leading the Nifty Auto index to drop by 375 points, or 1.60 per cent to settle at 23,588.
BSE Midcap and Smallcap indices rose 0.7 per cent each.
On the sectoral front, bank, realty, power, capital goods were up 1-2 per cent, while pharma, IT and auto down by 0.5-1 per cent.
Nifty PSU Bank index will gain another 3.7 per cent during the trading session, extending its rally for the second day.
Shares of JSW Infrastructure soared as much as 10 per cent after the company reported an impressive set of earnings for the July-September quarter.
Bharat Electronics shares surged 5 per cent after the company’s fiscal second-quarter earnings beat Street estimates.
Gillette India soared over 10 per cent after the grooming products maker reported a 43.5 per cent rise in net profit to Rs 133.01 crore for the quarter ended September 2024.
Shares of Suzlon Energy fell 3 per cent following its earnings results.
Gold and silver prices extended their rally to the third straight session. This was supported by uncertainty surrounding the upcoming US presidential election.
Investors awaited data for clues on the Federal Reserve’s interest rate trajectory.
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