Market witnesses volatile trading session, Sensex up by 158 points

The stock market witnessed a volatile trading session on Tuesday as after a roller coaster activity, the Nifty ended 72 points higher, while the Sensex was up by 158 points.

Nifty 50 increased by around 0.29% to reach 25,044, while the Sensex rose by over 158 points, showcasing strong investor confidence. Sensex opened at 82,534.61 against its previous close of 81,896.79 and surged over 1,100 points, or more than a per cent, to an intraday high of 83,018.

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On the other hand, Nifty opened at 25,179.90 against its previous close of 24,971.90 and jumped more than 1% to an intraday high of 25,317.70.

Around 108 stocks hit their 52-week high, while 43 stocks touched 52-week lows.

Those on the high included Aditya Birla Capital Ltd, Authum Investment & Infrastructure Ltd, Anupam Rasayan India Ltd, BharatElectronics Ltd, Bharti Airtel Ltd, Hyundai Motor India Ltd, Lloyds Metals and Energy Ltd, L&T Finance Ltd, Multi Commodity Exchange of India Ltd, Narayana Hrudayalaya Ltd, and Poonawalla Fincorp Ltd.

While on the lows were Aditya Birla Lifestyle Brands Ltd, Siemens Energy India Ltd, Orient Cement Ltd, Protean eGov Technologies Ltd, Alacrity Securities Ltd, Bharat Global Developers Ltd, Jindal Drilling & Industries Ltd, Vikram Kamats Hospitality Ltd, and National Standard (India) Ltd.

BSE Midcap and Smallcap indices rose 0.56% and 0.71%, respectively.

Among the sectors, Nifty PSU Bank led the rally with a 1.5% gain. It was followed by Nifty Metal adding 1%.

Further, Nifty Bank, Auto, Private Bank, and Consumer Durables also advanced rising 0.7% while, Nifty Media was the sole major laggard, slipping 1%.

Shares of InterGlobe Aviation surged as much as 4% after crude oil prices declined following a ceasefire between Iran and Israel.

SBI Cards rallied 3% after the financial services firm reported strong growth in its spend market share for May.

Further, the Adani Group stocks rose up to 4% after the conglomerate’s chairman announced a $15-20 billion capex in the next five years.

Amid geopolitical tensions, the elevated crude prices raise the risk of a wider trade deficit, weaken the rupee, fuel inflationary pressures, impact foreign capital inflows, increase input costs for corporates, and dent their profitability.