Stock markets close higher on fag-end buying; snap two-day losing streak

Mumbai: Benchmark equity indices Sensex and Nifty snapped two days of losses to close higher on Tuesday on the back of fag-end buying in auto, power and metal shares helped by fresh foreign fund inflows. The 30-share BSE Sensex rose by 204.16 points or 0.31 per cent to settle at 66,174.20 in a volatile trade. During the day, it hit a high of 66,256.20 and a low of 65,906.65.

The Nifty gained 95 points or 0.48 per cent to settle at 19,889.70. Among the Sensex firms, Tata Motors, Bajaj Finserv, UltraTech Cement, Bharti Airtel, Bajaj Finance, NTPC, Titan and Axis Bank were the major gainers. ITC, Hindustan Unilever, ICICI Bank and Power Grid were among the laggards. In Asian markets, Seoul and Shanghai settled with gains while Tokyo and Hong Kong ended lower.

European markets were trading mostly lower. The US markets ended marginally down on Monday. Global oil benchmark Brent crude climbed 1.19 per cent to USD 80.93 a barrel. Equity markets were closed on Monday for Guru Nanak Jayanti. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,625.21 crore on Friday, according to exchange data. The BSE benchmark declined 47.77 points or 0.07 per cent to settle at 65,970.04 on Friday. The Nifty slipped 7.30 points or 0.04 per cent to 19,794.70.