Market’s Upswing Wanes; Sensex, Nifty Manage Only Marginal Gains

On Tuesday, the Sensex and Nifty closed modestly higher after a fag-end sell-off wiped out the substantial gains made in early trading.

After climbing rapidly during the day, the 30-share BSE Sensex pared most of its gains in late trade to end modestly up by 30.99 points or 0.04 percent at 71,386.21. It climbed 680.25 points or 0.95 percent, during the day, to 72,035.47.

The Nifty likewise gave back most of its intraday gains, closing 31.85 points or 0.15 percent higher at 21,544.85. It gained 211.45 points or 0.98 percent, during the day, to 21,724.45.

The top gainers were Larsen & Toubro Bharti Airtel, HCL Tech, Tata Motors, Sun Pharma, and Tata Steel on the Sensex.

Among the laggards were Nestle, Asian Paints, Bajaj Finserv, HDFC Bank, and Axis Bank.

Tokyo and Shanghai closed higher in Asian markets, while Seoul and Hong Kong closed lower.

The majority of European markets were trading lower.

On Monday, the US markets finished with huge gains.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 16.03 crore on Monday.

Brent crude soared 1.72 percent to USD 77.43 a barrel.

On Monday, the BSE benchmark slid 670.93 points or 0.93 percent to 71,355.22. The Nifty sank 197.80 points or 0.91 percent to 21,513.

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