Live
- BJP questions Kejriwal on 21,000 deaths in Delhi due to contaminated water
- CM Revanth Reddy Inspects Progress of Telangana Mother Statue Installation
- ‘It’s Congress habit to spread lies’, says Vinod Tawde after sending legal notice to Kharge, Rahul
- Hungarian PM invites Netanyahu for visit, calls ICC warrants 'brazen and cynical'
- Lt Gen Suchindra Kumar reviews indigenously developed ‘Asmi’ machine pistols
- Who is AP's Next CM: Chandrababu Naidu Makes Key Comments in Assembly
- Engineering goods exports shoot past $10 bn in Oct, US & EU top markets
- India’s foreign exchange reserves stand at $657.89 billion
- ‘Thandel’ kickstarts musical journey with ‘Bujji Thalli;’ win hearts
- Kerala Actress Withdraws Sexual Abuse Allegations Against Industry Figures, Cites Government Negligence
Stock markets snap 5-day rout, Sensex up 366 pts
BSE Sensex
Overall sentiment remains cautious ahead of a crucial 2-day meeting of US Federal Reserve on its rate hike trajectory; No trading today (Republic Day)
Mumbai: Market benchmarks managed closed in the green on Tuesday after five sessions of steep losses as investors accumulated recently-battered banking, auto and FMCG counters amid a supportive trend in European equities. However, traders said the overall sentiment remains cautious ahead of a crucial two-day meeting of the US Federal Reserve where it will take a call on its rate hike trajectory. Russia-Ukraine tensions, stubborn inflation and unabated selling by foreign funds are the other risk factors in the near-term, they added.
After plunging below the 57,000-level in opening trade, the 30-share BSE Sensex gained momentum as the session progressed to finish 366.64 points or 0.64 per cent higher at 57,858.15. Similarly, the broader NSE Nifty rose 128.85 points or 0.75 per cent to close at 17,277.95.
"After a week-long consolidation, domestic indices took a breather supported by low-level buying. Western markets also supported, staging recovery following correction in oil markets, and as uncertainties over Fed policy and geopolitical tensions eased. However, volatility is expected to linger as investors await the Fed's final policy statement, providing clarity on the timeline of rate hikes,"' said Vinod Nair, head (research) at Geojit Financial Services.
Ajit Mishra, V-P (research), Religare Broking Ltd, adds: "Markets will react to the Fed meeting outcome in early trade on Thursday and we expect volatility to remain high, thanks to the scheduled monthly expiry. Keeping in mind the scenario, we reiterate our cautious view and suggest preferring hedged positions."
Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 3,751.58 crore on Monday, according to stock exchange data. Domestic markets will remain closed on Wednesday on account of Republic Day.
Barring IT and consumer durables, all BSE sectoral indices mustered gains. Telecom climbed 2.46 per cent, followed by utilities, power, auto, bankex and realty. In the broader markets, the BSE midcap and small cap indices advanced up to 1.03 per cent.
Maruti topped the Sensex gainers' chart with a jump of 6.88 per cent after the country's largest carmaker posted a consolidated net profit at Rs1,041.8 crore for the December quarter -- down 48 per cent y-o-y but well above analyst estimates.
