Stock market bounces back; banks, metals shine
Sensex was up 599.34 points, or 0.83 per cent at 73,088.33, while the Nifty was up 151.20 points or 0.69 per cent at 22,147.
Key indices of the domestic equities market opened flat on Tuesday morning, tracking mixed global cues. Auto and IT stocks were up in the morning trade. Heavyweight Reliance was up 0.26 per cent as well.
BSE 30-share Sensex went up 116 points to 62,962.38 and NSE Nifty went up 36 points 18,634.90 in the morning trade on Tuesday. BSE Auto Index was up 0.34 per cent and IT Index was also 0.19 per cent in the morning. Reliance Industries’ shares were up 0.26 per cent to Rs 2,526.65 apiece on Tuesday morning.
Sobha on Monday reported a strong jump in its fourth-quarter profit and its shares jumped 5.43 per cent in the morning.
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Inox Wind bagged a repeat order of 150 MW from NTPC Renewable Energy. Inox shares went up 6.65 per cent in morning trade.
In Asian markets, Hong Kong’s Heng Seng lost 154 points, Japan’s Nikkei dropped 99 points, China’s Shanghai was down 23 points and HNX 30 went up 8 points.
In the US markets, Dow Jones was up 328 points, Nasdaq Composite and S and P 500 were trading in the positive territory and S and P/BMV was up 187 points.
In the European markets, Amsterdam Exchange, BEL, CAC, Madrid SE and Deutsche Borse were trading in the positive territory and FTSE 100 IDX surged 56 points.
In the foreign exchange market, the rupee opened marginally low on Tuesday morning. The local currency opened 2 paise lower at 82.65 against the previous close of 82.63 a dollar.
The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, eased 0.125 per cent to 104.17.
Domestic Institutional Investors (DIIs) turned net buyers on Monday with Rs 853.57 crore. Foreign Institutional Investors (FIIs) were also net buyers with Rs 1,758.16 crore on Monday’s closing.
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