ANI
22 Nov 2022, 18:25 GMT+10
Mumbai (Maharashtra) [India], November 22 (ANI): Indian markets snapped a 3-day losing run as the Sensex gained 274 points to settle at 61,418.96 and Nifty went up 84 points to end at 18,244.20. Some selling pressure was seen in power and realty stocks during the Tuesday session.
The markets started on a sluggish note, however, indices recovered to end with smart gains, mainly aided by a recovery in European markets.
Among the top gainers on BSE, EaseMyTrip, UCO Bank, Mazagon Dock, JP Associates and Garden Reach Shipbuilders gained during the day.
In the broader market, the SP BSE Mid-Cap index rose 0.45 per cent while the SP BSE Small-Cap Index shed 0.12 per cent. On the BSE, 1,649 shares rose, and 1,807 shares fell while a total of 152 shares were unchanged. PSU Banks, Metal, and IT stocks were in demand while Realty and Energy shares corrected.
"The weakness in the market is likely to continue in the near term. With the dollar index rebounding to above 108, FIIs may sell again or at least refrain from big buying. There are no positive triggers now that can take the market much higher from the current levels," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Vijayakumar added long-term investors can utilize the weakness in the market to buy high-quality stocks in banking, telecom, capital goods, IT and autos and blue chips across sectors.On Monday, markets started the week on a feeble note and lost over half a per cent, in continuation to the previous session's fall.
After the initial decline, Nifty traded in a narrow band till the end and settled closer to the day's low at 18,159.95 levels. Most sectoral indices traded in line with the benchmark and ended lower wherein realty, IT and energy were the top losers.
"Participants should see the dip as normal profit-taking after the recent surge and we expect the 17,950-18,050 zone to act as immediate support in Nifty. While we're seeing a mixed trend across sectors, resilience in the banking space is playing a critical role in capping the damage so far," said Ajit Mishra, VP - Research at Religare Broking.
Meanwhile, the rupee too opened Tuesday's trade marginally higher at 81.72 against the previous session close of 81.84. (ANI)Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More Information(Photo credit: Nathan Ray Seebeck-Imagn Images) Masataka Yoshida is expected to be in the lineup when the Boston Red Sox try to complete...
(Photo credit: Steven Bisig-Imagn Images) After a week of angst that saw them fall out of first place in the American League East,...
(Photo credit: Mitch Stringer-Imagn Images) New York Mets outfielder Juan Soto might be trying to prove a point this week after he...
(Photo credit: Denis Poroy-Imagn Images) Luis Arraez homered in the seventh inning to break up a scoreless tie Tuesday night and...
(Photo credit: Sergio Estrada-Imagn Images) Lawrence Butler homered twice and Nick Kurtz belted his first career grand slam to lead...
(Photo credit: Denis Poroy-Imagn Images) Luis Arraez homered in the seventh inning to break up a scoreless tie Tuesday night and...
(Photo credit: Jeffrey Becker-Imagn Images) Longtime NFL executive Tim Rooney, the nephew of Pittsburgh Steelers founder Art Rooney...
(Photo credit: Raymond Carlin III-Imagn Images) BYU coach Kalani Sitake plans to let quarterback Jake Retzlaff speak for himself...
(Photo credit: Chris Jones-Imagn Images) Cowboys quarterback Dak Prescott declared himself a 'full go' for training camp and fully...
(Photo credit: Jayne Kamin-Oncea-Imagn Images) Pettis Norman, a tight end on the football field and a civil rights advocate off of...
(Photo credit: Michelle Pemberton/IndyStar / USA TODAY NETWORK via Imagn Images) Bengals quarterback Joe Burrow punted plans to purchase...
(Photo credit: Dale Zanine-Imagn Images) Kirk Cousins believed he had all the facts and with no reason to doubt the Atlanta Falcons'...