Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
Following sluggish global market indications, Indian stock indices started the day lower on Tuesday.
At 9.25 am on Tuesday, the BSE Sensex dropped 137.27 points to 61,030.52, while the NSE Nifty 50 dropped 33.85 points to 18,163.60.
On the BSE, active equities such as South Bank, CSB Bank, PSP Project, J and K Bank, and Karnataka Bank increased. On Tuesday morning, the laggards included JSL, Eureka Forbes, Triveni Turbine, Usha Mart, and Tatva Chintan Pharma. As markets began on Tuesday, the majority of the financials were trading in the green on NSE.
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Tuesday saw a decline in other Asian markets as a result of worries about the Covid-19 outbreak in China, which could impede economic growth and worsen supply chain problems.
Shanghai SE in China was down 8.15 points, the Hang Seng in Hong Kong opened 157.54 points lower, and the S&P ASX was down 131 points.
In the European markets, the FTSE had closed at 60.98 points, the CAC was up, the Deutsche Borse was trading aggressively with 145 points higher, and Refinitiv Europe was up 1.61 points.
When the markets opened in Asia on Tuesday, the Dow Jones had dropped and had settled with a loss of 73.55 points, the Nasdaq had dropped 11.60 points from its previous closing, and the S&P 500 had lost 10 points.
Early on Tuesday, the Indian rupee increased 38 paise to 82.707 against the US dollar.
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