Indian benchmark indices, Sensex and Nifty, staged a significant recovery to close higher, buoyed by late-day buying and a notable drop in Brent crude oil prices below the $90 per barrel mark, calming investor sentiment across the market.
Key Points
- Indian benchmark indices, Sensex and Nifty, closed higher after recovering intraday losses, driven by fag-end buying.
- Brent crude oil prices significantly declined by 3 per cent, falling below $90 per barrel to $89.32, easing investor concerns.
- The Sensex gained 286.98 points (0.37 per cent) to settle at 77,656.09, while the Nifty rose 115.50 points (0.48 per cent) to 24,334.55.
- Major gainers among Sensex firms included InterGlobe Aviation, Adani Ports, Infosys, Trent, Titan, and State Bank of India.
- Foreign Institutional Investors (FIIs) showed positive sentiment, buying equities worth Rs 1,181.66 crore in the previous session.
Market benchmark indices Sensex and Nifty recovered their intraday losses and ended higher on Tuesday as fag-end buying and sharp decline in crude oil prices calmed investors' sentiment.
After remaining in negative territory for most part of the day, the 30-share BSE Sensex bounced back during the fag-end of trading and was up 286.98 points, or 0.37 per cent, to settle at 77,656.09.
During the day, it hit a high of 77,666.39 and a low of 77,125.91.
The benchmark declined 243.2 points, or 0.31 per cent during intraday trade.
Nifty's Performance and Top Gainers
Similarly, the 50-share NSE Nifty ended higher by 115.50 points, or 0.48 per cent, at 24,334.55 on fag-end buying.
Among the 30 Sensex firms, InterGlobe Aviation, Adani Ports, Infosys, Trent, Titan and State Bank of India were the major winners.
Eternal, HCL Tech, Power Grid and Bajaj Finserv were among the major laggards.
Impact of Crude Oil and Global Cues
Brent crude, the global oil benchmark, declined 3 per cent to $89.32 per barrel.
"The much-anticipated US sanctions against Iran fell short of market expectations, causing crude oil prices and bond yields to moderate from their recent peaks.
"This relief in energy costs aided a moderately positive close today on the monthly expiry day," Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 and Shanghai's SSE Composite index ended higher, while Hong Kong's Hang Seng index settled marginally lower.
FII Activity and Previous Session's Close
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,181.66 crore on Monday, according to exchange data.
