Consumer Durables News

sensex today: Sensex surges 563 points led by Reliance, HDFC twins; Nifty tops 18,000


Defying mostly negative global cues, benchmark equity indices closed in the green on Tuesday led by heavy buying in index majors , twins and IT stocks.

The BSE Sensex index ended 563 points or 0.94% higher at 60,656, while Nifty50 rose 158 points or 0.89% to settle at 18,053.

From the Sensex pack, L&T was the top gainer, rising over 3.5%.

, , , HDFC, Reliance, and also closed with gains.

On the other hand,

, , , , , and recorded losses.

Sector-wise, Nifty FMCG surged 1.20%, Nifty Realty 1.17% and Nifty Auto 0.57%. Whereas, PSU bank, pharma, healthcare, consumer durables and media stocks closed lower. In the broader market, Nifty Midcap50 plunged 0.13% and Smallcap50 ended flat.

“The domestic market is attempting to gain, in comparison to its weak YTD performance, which was caused in anticipation of a soft Q3 result & Union Budget. We started the third quarter results on a shaky note, but the latest set of financial announcements from IT and banking blue chips are encouraging,” said Vinod Nair, Head of Research at

.

“Given the positive undercurrents, the trend should continue in the short term. However, a lot will depend on the second line of Q3 results, the Budget outcome, and the Fed policy statement,” Nair added.Global Markets
Asian stocks mostly fell Tuesday after data showed China’s economy at its slowest pace in four decades last year, though traders remain hopeful about the country’s outlook as it emerges from years of debilitating zero-Covid measures.

Japan’s Nikkei 225 ended 1.2% higher at 26,138.68, while Hong Kong’s Hang Seng fell 0.8% to 21,577.64.

Equity markets in Europe got off to a soft start on Tuesday with the pan-regional STOXX 600 benchmark dipping slightly after briefly hitting a fresh 9-month high.

The FTSE 100 eased 0.2% but remained very close to its 2018 record high of 7,903.5 points. Most other country indices also fell with Germany’s DAX down 0.3%.

Currency Watch
The rupee declined against the dollar, tracking a broad decline in Asian currencies led by the Chinese yuan.

The rupee last traded at 81.76 against the dollar, down from 81.6125 in the previous session, and added to its drop on Monday.

Crude Impact
Crude oil prices on Tuesday rose by Rs 30 to Rs 6,485 per barrel in futures trade as participants increased their positions following a firm spot demand.

Globally, West Texas Intermediate crude oil was down by 0.81% at $79.21 per barrel, and Brent crude traded 0.12% higher at $84.56 per barrel in New York.

(With inputs from agencies)



Source link