Market ends in gains with Sensex closing above 600 points

The Indian market rebounded sharply on Tuesday posting significant gains however, profit booking at higher levels trimmed some of the gains. At close, Nifty was at 24,177.65, up 181.95 points or 0.76% while Sensex ended at 77,496.36, gaining 609.45 points or 0.79%. Nifty Midcap 100 index ended marginally lower, while the Nifty Smallcap 100 index gained 0.65%.

Among the sectors, Auto, IT, FMCG, and realty indices rose around 1%, while infrastructure, metal, oil & gas, and pharma sectors posted moderate gains of about 0.5%. PSU banks, media, and consumer durables indices declined 0.5% each.

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On Nifty, the top gainers were Maruti Suzuki India, Coal India, Tech Mahindra, ITC Limited, and Reliance Industries while on the downside were InterGlobe Aviation, Dr. Reddy’s Laboratories, NTPC, ICICI Bank and Bajaj Finserv.

More than 160 stocks touched their 52-week high on the BSE, including Bandhan Bank, Star Health, Emcure Pharmace, GE Shipping, Glenmark Pharma, Welspun Corp, Aarti Industries, Sona BLW, Granules India, Adani Green, Adani Ports, Nestle, Adani Power, CESC, ONGC, Hitachi Energy, Lloyds Metals, MCX India, BHEL, JSW Energy, among others.

Indian rupee ended at day’s low at 94.85 per dollar against previous close of 94.54.

After posting the results, Maruti Suzuki India rose 4%, Eternal gained 4%, Reliance Industries extended its gains for the third consecutive session, advancing 1.5%.

ICICI Bank and Axis Bank declined during the session while metal stocks were also under pressure as the National Aluminium Company falling 2.1% and Steel Authority of India declining 1.6%.

At the time of opening, markets kicked off on a firm footing with the benchmark indices opening in the green led by buying interest across key sectors. The Nifty 50 reclaimed the 24,100 mark, while the Sensex surged over 320 points in early trade.

Asian markets opened on a mixed note. MSCI Asia-Pacific index edged lower while the US markets also closed lower overnight, with the Nasdaq falling nearly 1 percent and the S&P 500 declining about 0.5 percent.