Monday, March 4, 2024
Monday, March 4, 2024
HomeBusinessStock markets recover thanks to the purchase of shares in banking and...

Stock markets recover thanks to the purchase of shares in banking and IT; Sensex rises 482 points

Mumbai: Benchmark indices Sensex and Nifty rallied on Tuesday on the back of buying in banking, financial services and IT stocks.

The 30-share BSE Sensex rose 482.70 points or 0.68 per cent to settle at 71,555.19. The indicator moved between the day’s high of 71,662.74 and an intraday low of 70,924.30.

The broader NSE Nifty also soared 127.20 points or 0.59 per cent to close at 21,743.25.

As many as 25 stocks in the 30-share barometer closed in the green, while 11 members of Nifty50 closed the session with losses.

ICICI Bank, Axis Bank, Wipro, Kotak Mahindra Bank and NTPC were among the top gainers in the Sensex pack.

The five stocks that bucked the trend were UltraTech Cement, Mahindra & Mahindra, Titan, Tata Motors and Nestle.

The BSE small cap index rose 0.18 per cent, while the mid and large cap indices closed with a gain of 0.61 per cent each.

In Asia, Tokyo’s Nikkei 225 and China’s Shanghai Composite were in positive territory, while Hong Kong’s Hang Seng was in the red.

European markets were in the red, with France’s CAC 40 and Germany’s DAX falling 0.32 percent and 0.62 percent, respectively.

The US market ended Monday’s session on a mixed note.

Global benchmark Brent crude rose 0.78 percent to $82.64 a barrel on Tuesday.

On Monday, Sensex closed 523 points or 0.73 per cent lower at 71,072.49 points, while the Nifty closed 166.45 points or 0.76 per cent lower at 21,616.05 points.

Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 126.60 crore, according to exchange data.

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