Sensex rise today: Sensex inches 274 pts higher after 3-day slide, Nifty ends tad below 18,250 level

Snapping three straight days of losses, Indian equity markets closed higher on Tuesday, led by index heavyweight , IT, banking and consumer stocks.

The 30-share Sensex ended 274 points higher at 61,419 while its broader peer Nifty 50 ended just below the 18,250 level after trading in a narrow range with investors turning extra cautious awaiting fresh cues on the US Federal Reserve’s future rate path.

Among Sensex stocks,

, NTPC, , , M&M, and were among the top gainers in today’s trading session, rising around 1-3%. , ITC, , TCS, L&T and also closed higher. However, , , and ended the session with the cuts.

Sectorally, the Nifty PSU Bank rose 1.66% and Nifty IT increased 0.81%. Nifty Metal and Nifty Consumer Durables also closed higher. In the broader market, Nifty Midcap50 advanced 0.55% and Smallcap50 rose 0.15%.

“After three days of risk aversion, the domestic market experienced a relief rally in response to a bullish trend in global markets. The tight Covid lockdown in China, however, has negatively impacted the forecast for global growth. FII interest has also reduced significantly as a result of the increased likelihood of stricter Fed policies,” Vinod Nair, Head of Research at

, said.

“Nifty started flat following global peers and moved up higher by the end of the session. On the higher end, it moved back above 18,200. A bullish harami pattern on the daily chart suggests a recovery in the term. The trend looks sideways to positive. Going forward, 18,200 may provide immediate support below which the index may drift down towards 18,100. On the higher end, resistance is visible at 18,300/18,450,” Rupak De, Senior Technical Analyst at

, said.

Earlier in Asian markets, Japan’s Nikkei 225 rose 0.61% and China’s Shanghai Composite surged 0.13% while South Korea’s Kospi declined 0.59%.

The rupee snapped four sessions of declines to close higher. It ended at 81.66 per dollar against its previous close of 81.84. While the Brent crude January futures rose 0.35% to $87.76 per barrel.

The market breadth was skewed in favour of bears. About 1,806 stocks declined, 1,647 gained and 155 remained unchanged.

The market capitalisation of all listed companies on BSE increased by Rs 73,395 crore to Rs 281.64 lakh crore.