BFSI stocks spoil recovery

Mumbai: Equity benchmark indices Sensex and Nifty on Tuesday closed moderately higher after a fag-end sell-off minimised the handsome gains posted in early trading. Besides, investors opted for profit-taking ahead of the start of corporate earnings season and macroeconomic data announcements later this week, traders said.

After rising sharply during the day, the 30-share BSE Sensex trimmed most of the gains during the fag-end trading and ended marginally higher by 30.99 points or 0.04 per cent at 71,386.21. During the day, it jumped 680.25 points or 0.95 per cent to 72,035.47. The Nifty also gave up most of the intra-day gains and closed 31.85 points or 0.15 per cent up at 21,544.85. During the day, it climbed 211.45 points or 0.98 per cent to 21,724.45.

“Markets witnessed a roller coaster ride on Tuesday and ended almost flat, in continuation to the prevailing consolidation phase. Firm global cues triggered a gap-up start in Nifty, which further strengthened with renewed buying in select heavyweights, however a sharp cut in the latter half trimmed the gains,” said Ajit Mishra, SV-P (technical research), Religare Broking Ltd.