India's benchmark equity indices snapped four sessions of losses to close higher on Tuesday, led by gains in auto and financial stocks. HCL Technologies Ltd. took a beating after June quarter disappointment.
The NSE Nifty 50 ended 113.5 points or 0.45% higher at 25,195.8, while the BSE Sensex closed 317.45 points or 0.39% up at 82,570.91.
Intraday, the Nifty tested the 25,100 level before positive momentum took over. The index gained as much as 0.65% during the session.
Of the 50 stocks on the blue-chip Nifty, 35 advanced. The market capitalisation of the blue-chip pack added over Rs 93,600 crore.
Sectorally, notable strength was observed in automobiles, healthcare, pharmaceuticals, realty, and PSU banks, all of which contributed to the index's upward trajectory.
Markets also received a sentiment boost after India's retail inflation slowed to a more than six-year low of 2.1% in June, near the lower range of the Reserve Bank of India's tolerance band, as food prices continued to ease, making a case for further interest rate cuts.
Shares of Hero MotoCorp., Bajaj Auto Ltd. and Sun Pharmaceutical Industries Ltd. were among the top gainers in the Nifty 50.
HCLTech, Eternal Ltd. and SBI Life Insurance Co. were among the biggest laggards.
In terms of points contribution, HDFC Bank Ltd., ICICI Bank Ltd. and Infosys Ltd. added to the Nifty the most.
On the NSE, all 15 sectors ended in the green, with Nifty surging the most.
The broader market indices outperformed the benchmarks, as the BSE MidCap jumped 0.8% and SmallCap gained 0.95%.
The market breadth was skewed in favour of the sellers as 2,475 stocks advanced, 1,473 declined and 152 remained unchanged on the BSE.
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