Markets make modest gains amid firm global cues
Despite RIL show, indices end lower as bank stocks weigh
Mumbai: Equity benchmarks Sensex and Nifty closed in the green for the third straight session on Tuesday, propped up by financial stocks amid firm global cues. Lack of buying triggers and profit-booking in index heavyweight Reliance Industries capped the gains for the benchmarks, traders said.
After a choppy session, the BSE index ended 44.80 points or 0.12 per cent higher at 38,843.88. The NSE Nifty inched up 5.80 points or 0.05 per cent to close at 11,472.25. Bajaj Finance was the top gainer in the Sensex pack, rallying 4.39 per cent, followed by SBI, Tech Mahindra, Asian Paints, Bajaj Finserv, ICICI Bank, IndusInd Bank and Axis Bank. On the other hand, NTPC, Sun Pharma, Nestle India, Tata Steel, L&T, Infosys and Bajaj Auto were among the laggards, shedding up to 1.61 per cent.
Global markets were largely positive after the US and China affirmed their commitment to a phase-1 trade deal. "Indian markets exhibited characteristic volatility, trading undecidedly, before ending flat with a slight positive bias. This was in spite of positive global cues after the US and China reaffirmed their commitment to a previous trade deal and also due to progress in virus vaccine development.
"In the Indian markets this positivity was offset by losses in index blue-chips. The markets are trading uncertain due to lack of domestic triggers.