India's benchmark stock indices ended at three-month highs on Tuesday as most sectors advanced, led by information technology, metals, and energy stocks.
The S&P BSE Sensex closed above 61,400—the highest level since Dec. 20, 2022. While the NSE Nifty 50 was above 18,100, the most since Jan. 18.
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Most global markets wobbled and bond yields rose on Tuesday after Australia's unexpected interest-rate increase showed central banks remain in inflation-fighting mode, cementing expectations for further policy tightening in the U.S. and Europe.
European shares opened flat, with HSBC Holdings Plc. being the standout gainer after a profit beat and a $2 billion share buyback.
U.S. equity futures swung between losses and gains following the government-brokered deal for JPMorgan Chase & Co. on Monday to acquire the troubled First Republic Bank.
Starting later on Tuesday, the Federal Reserve's two-day meeting will decide on a rate hike, while the European Central Bank will also mull the same on Thursday.
The S&P BSE Sensex closed 242 points, or 0.40%, higher at 61,354.71, while the NSE Nifty 50 gained 83 points, or 0.46%, to end at 18,147.65.
Axis Bank Ltd., HDFC Life Insurance Co., Maruti Suzuki India Ltd., Oil & Natural Gas Corp Ltd., Tech Mahindra Ltd., and Tata Steel Ltd. were among the top gainers in the Nifty 50.
While, Bharti Airtel Ltd., HDFC Bank Ltd., Hindustan Unilever Ltd., IndusInd Bank Ltd., Kotak Mahindra Bank Ltd., and State Bank of India weighed on the index.
Among the Adani Group companies, NDTV Ltd., Ambuja Cements Ltd., Adani Transmission Ltd., and Adani Enterprises Ltd. declined, while the others advanced in trade.
The broader market indices ended higher and outperformed their larger peers, with the S&P BSE MidCap ending 0.74% higher and the S&P BSE SmallCap gaining 0.63% at close on Tuesday.
Out of the 19 sectors compiled by BSE, 17 advanced, while only S&P BSE Telecommunication and S&P BSE Fast Moving Consumer Goods declined.
The market breadth was skewed in favour of the buyers. About 2,119 stocks rose, 1,513 declined, and 184 remained unchanged on the BSE.
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