Sensex snaps 5-day losing streak, Nifty ends at 10,537

INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian stock benchmarks Sensex and Nifty snapped their five-day losing streak on Tuesday on gains in metal, auto and pharma
stocks amid mixed global cues. However, concerns over rising global oil prices and precarious rupee against the US dollar kept market
sentiment restricted. After suffering losses in five consecutive sessions, market managed to finish Tuesday's session with mild gains, as
investors chose to shrug off pessimism due to rising oil prices and falling rupee and bought in most sectors. The churn in market, triggered
by Sebi's recent guidelines on segregation of fund schemes also appeared to have subsided as both BSE Midcap and smallcap indices settled
0.65 per cent up on Tuesday, outperforming benchmark Sensex. The Sensex closed the day 0.10 per cent up at 34,651, while the Nifty finished
at 10,537, up by 20 points or 0.19 per cent. In the Sensex kitty 19 stocks closed the day in the green and 12 in the red, whereas in the
Nifty pack, 31 remained in the green, 18 in the red and 1 unchanged
State Bank of India, Tata Motors, Infosys, Maruti Suzuki and DR
Reddy's Laboratories remained the key contributors to the rally in Sensex. On the contrary, ITC, Tata Consultancy Services, HDFC and
Reliance Industries remained the top drags on the key index. India's largest lender State Bank of India on Tuesday reported a whopping Rs
7,718 crore loss for March quarter as bad provisions doubled to Rs 22,096 crore from Rs 11,740 crore in the same quarter last year
Oil marketing major Indian Oil Corporation on Tuesday posted 40.25 per cent year-on-year rise in profit at Rs 5,218.10 crore for the
quarter ended March 31
Dr Reddy's Laboratories on Tuesday posted 3 per cent year-on-year fall in profit at Rs 302.20 crore for the March quarter. Among the
sectors on BSE, energy, FMCG, utilities and oil gas remained in the negative zone
European shares inched to a near four-month high on Tuesday amid easing pressure on Italian markets and China's latest move to open its
giant economy to the rest of the world, Reuters reported.