Sensex, Nifty Snap Five-Day Losing Streak; Metals Outperform


Metal shares outperformed benchmarks for second straight session, driving on a surge in copper costs

Indian fairness benchmarks snapped their five-day dropping streak on Tuesday paced by good points in steel, actual property, oil & gasoline and auto shares. The benchmarks had a gap-up opening, whereby the Sensex surged over 550 factors and Nifty 50 index moved above 14,850. However, indices got here off their highs in afternoon buying and selling as traders seemingly took some income off the desk.

The Sensex ended 7 factors larger at 49,751 and Nifty 50 index rose 32 factors to settle at 14,708.

Metal shares outperformed the benchmarks for second straight session, driving on a surge in copper costs in worldwide markets. Oil advertising and marketing corporations additionally witnessed shopping for curiosity, monitoring larger crude oil costs.

On the flip aspect, banking, monetary providers and telecom shares witnessed promoting strain.

Mid- and small-cap shares outperformed bigger friends as S&P BSE MidCap index rose 1 per cent and SmallCap 100 index superior 0.8 per cent.

Reliance Industries was prime mover within the Sensex, including 50 factors to the benchmark index. The inventory rose as a lot as 2 per cent after the corporate mentioned it plans to get approvals to hive off its oil-to-chemicals enterprise by September quarter of subsequent fiscal 12 months.

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Tata Group shares staged sturdy efficiency as Tata Steel, Tata Motors and Tata Chemicals rose between 3-6 per cent.

ONGC, UPL, GAIL India, BPCL and Larsen & Toubro had been among the many prime Nifty gainers.

On the opposite hand, Kotak Mahindra Bank, Adani Ports, Maruti Suzuki, Bajaj Auto, Divi’s Labs, HDFC Bank, HCL Technologies and Wipro had been among the many losers.

The total market breadth was optimistic as 1,690 shares ended larger, whereas 1,232 closed decrease on the BSE.



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