Sensex and Nifty, which started on a weak note, surged led by buying in IT and auto stocks.New Delhi: The Indian equity benchmark indices recovered from intraday losses during late deals to end higher on Tuesday.
The domestic bourses, which started on a weak note, surged led by buying in information technology and automobile stocks despite weak global cues.U.S.
Federal Reserve Chair Jerome Powell hinted at a rate hike of 50 basis points (bps) and crude oil trading above the $110 per barrel due to the Russia-Ukraine conflict.Back home, the 30-share BSE Sensex soared 697 points or 1.22 per cent to close at 57,989, while the broader NSE Nifty moved 198 points or 1.16 per cent higher to settle at 17,316.Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 index and small-cap shares rose 0.28 per cent each.10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- ended in the green.
Nifty IT and Nifty Auto outperformed the index by rising as much as 1.96 per cent and 1.19 per cent, respectively.
However, Nifty FMCG and Nifty Consumer Durables tanked as much as 0.73 per cent and 0.71 per cent, respectively.On the stock-specific front, Tech Mahindra was the top Nifty gainer as the stock zoomed 4.19 per cent to Rs 1,541.75.
BPCL, Tata Motors, Reliance Industries and Bajaj Finserv were also among the gainers.The overall market breadth stood slightly negative as 1,638 shares advanced while 1,773 declined on BSE.On the 30-share BSE index, TechM, RIL, Bajaj Finserv, ITC, TCS and IndusInd Bank were among the top gainers.In contrast, HUL, Nestle India, Sun Pharma, NTPC and Asian Paints settled in the red.