Stock Market Highlights: Nifty, Sensex Snap Three-Day Decline On Buying In RIL, HDFC Bank
The NSE Nifty 50 settled 140 points or 0.57% higher at 24,821.1, managing to break the 24,800 resistance level.
India's benchmark equity indices snapped a three-session decline to close higher on Tuesday as investors bought into large-cap heavyweights Reliance Industries Ltd. and HDFC Bank Ltd. Realty and pharmaceutical stocks also surged.
The NSE Nifty 50 settled 140 points or 0.57% higher at 24,821.1, managing to break the 24,800 resistance level. The BSE Sensex added 447 points or 0.55% to close at 81,337.8.
Of the 50 stocks on the blue-chip Nifty, 36 advanced. The market capitalisation of the blue-chip pack jumped by nearly Rs 1.16 lakh crore.
Shares of Jio Financial Services Ltd., Larsen & Toubro Ltd. and RIL were among the top gainers in the Nifty 50. On the other hand, Axis Bank Ltd. and Tata Consultancy Services Ltd. were among the top laggards.
In terms of point contribution, RIL, HDFC Bank, and L&T added to the Nifty.
On the NSE, all but one sector ended in the green, with Nifty Realty and Nifty Pharma rising the most. The Nifty Defence fell 0.4% after first-quarter results from Mazagon Dock Shipbuilders Ltd. and Bharat Electronics Ltd. failed to enthuse investors.
The broader market posted better gains than the benchmark. The BSE MidCap rose 0.84% and SmallCap surged 1.1%.
The market breadth was skewed in favour of the sellers as 2,424 stocks advanced, 1,481 declined and 137 remained unchanged on the BSE.
