The 30-share Sensex ended 403 points higher at 62,533, while its broader peer Nifty50 ended above 18,600 level.
“Underpinned by favourable domestic macro numbers and optimistic global cues, domestic indices belled the day in the positive terrain. PSU banks led the rally while IT snapped its losing streak on bargain buying,” said Vinod Nair, Head of Research at
.
“India’s retail inflation eased sharply to 5.88%, which was within the RBI’s tolerance band. The US inflation figures, which are due before the Fed announcement, will provide an indication of the Fed’s policy stance,” Nair added.
Among Sensex stocks,
, , TCS, , M&M and were the top gainers, rising around 1.5-2%. , , , and also closed higher.
On the other hand, Nestle
, Maruti , Dr Reddy’s Labs and HUL closed with the cuts.
Sectorally, the Nifty PSU Bank rose 3.81% while Nifty IT advanced 1.12%. Nifty Financial Services and Nifty Auto, too, closed higher. In the broader market, Nifty Midcap50 surged 0.40% while Smallcap50 ended flat.
Asian markets ended mixed on Tuesday, as nervous investors sat tight ahead of key US inflation data and a Federal Reserve policy decision. Japan’s Nikkei 225 rose 0.40%, while South Korea’s Kospi fell 0.03% and China’s Shanghai Composite declined 0.09%.
The rupee declined 0.33% to 82.80 per dollar, as importer-led dollar demand weighed further on the local currency. While the Brent crude February futures increased 1.27% to $78.98 per barrel.
The market breadth was skewed in favour of the bulls. About 1,925 stocks gained, 1,599 declined and 145 remained unchanged. The market capitalisation of all listed companies on the BSE increased by Rs 1.59 lakh crore to Rs 290 lakh crore.
More t0 come….
