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26 January, 2022 14:29 IST
Sensex ends 198 points higher; Metals, realty shine
Source: IRIS | 23 Nov, 2021, 05.38PM
Rating: NAN / 5 stars.
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Indian equities ended higher on Tuesday snapping earlier losses. Metals, power, realty and pharma stocks witnessed buying interest while IT stocks traded lower.

Equity markets opened gap down but bounced back mid-session to close with gains of +0.5% as buying emerged at lower levels - snapping its four- day losing streak. Broader market however strongly outperformed with gains of ~1.8%. All sectors ended in green with Metals followed by PSU Banks, Energy, Media and Realty driving the market. On the primary market side, Latent View had a blockbuster listing with gains of 160%.

At the close, the benchmark 30-share index, BSE Sensex gained 198.44 points or 0.34% at 58,664.33 with 21 components posting rise. Meanwhile, the broad based NSE Nifty went up by 86.80 points or 0.50% at 17,503.35 with 31 components posting rise.

Biggest gainers in the 30-share index were Power Grid Corporation of India (3.91%), NTPC (2.53%), Tata Steel (2.38%), Bharti Airtel (2.35%), Sun Pharma (1.73%), Bajaj Finserv (1.68%) and Tech Mahindra (1.45%).

On the other hand, IndusInd Bank (2.59%), Asian Paints (2.35%), Infosys (1.49%), Bajaj Auto (0.26%), Maruti Suzuki (0.21%), Titan (0.16%) and ICICI Bank (0.15%) were the major losers in the Sensex. Market breadth was positive with 2,428 advances against 825 declines.

Globally, markets remained on edge with the latest surge of Covid-19 cases in European region which overshadowed strong PMI data for the euro zone. Further, markets reacted to the announcement of a second term for Federal Reserve Chair Jerome Powell. Oil prices came under pressure post reports of US releasing its emergency oil reserves to control spiralling prices.

"Despite today's bounce back, market is likely to continue with its consolidation as the prevailing headwinds linger to dampen investor sentiments. Weak Global cues, absence of any fresh trigger and monthly F&O expiry this week could keep markets volatile," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

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