Benchmark indices ended higher for the second consecutive session on Tuesday. The S&P BSE Sensex zoomed 1,200 points intra-day to hit a high of 52,799. The index, however, settled 934 points, or 1.81 per cent, higher at 52,532. On the NSE, the Nifty50 closed at 15,639, up 289 points or 1.88 per cent, after hitting a high of 15,707 in the intra-day.
Top Gainers and Losers
Among stocks, Suven Life Sciences soared 5 per cent. The company’s board is scheduled to meet on June 24 to consider a proposal to raise funds by way of issue of equity shares on rights basis.
KEC International rose over 2 per cent after the company said it won new orders worth Rs 1,092 crore across its various businesses.
Vinod Nair, head of research at Geojit Financial Services, said: “Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market to showcase recovery. The recovery indicates that the current uncertainties of inflation and monetary policy tightening have been factored in. However, with the highly sensitive nature of the current equity market, even the slightest inconvenience can trigger volatility.”
Global Cues
Asian shares opened slightly higher Tuesday morning, extending the previous day’s gains, following a positive lead from Europe as some stability returned to markets after last week’s hefty losses. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.81 per cent.
Tokyo shares opened higher Tuesday, as investors wait to hear Federal Reserve Chair Jerome Powell address the US Congress later this week. The benchmark Nikkei 225 index rose 1.07 per cent or 275.88 points at 26,047.10 while the broader Topix index added 1.20 per cent or 21.78 points at 1,840.72.
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