Sensex Ends Volatile Trade 165 Points Higher; Nifty Below 22,350; BSE SME Cracks 5%

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posted on 8 months ago — updated on 1 second ago

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In the broader markets, the BSE MidCap and SmallCap indices were mixed with the foremr up 0.12 per cent and the latter down 0.08 per cent.

Sensex Today: Frontline line equity indices bucked the trend in the broader market, and finished in the positive territory on Tuesday led by gains in index heavyweights – HDFC Bank, TCS and Reliance Industries.

The S&P BSE Sensex touched a high of 74,004 and a low of 73,342 amid intra-day volatility, before settling with a gain of 165 points at 73,668. The NSE Nifty ended a tad (3 points) higher at 22,336.

Maruti, Infosys and Bharti Airtel were the other notable movers among the Sensex 30 stocks. On the other hand, SBI slipped up to 2 per cent. JSW Steel, ITC, NTPC, Tata Motors and UltraTech Cement were the other prominent losers.

Shares of Adani Group too ended with losses, down in the range of 2-4 per cent amid the broader market sell-off.

Meanwhile, the BSE SME IPO index plunged nearly 5 per cent a day after the market regulator said it observed signs of manipulation at both the trading and issuance levels in the small and midsize enterprise (SME) space.

Sebi Chairperson Madhabi Puri Buch on Monday said that the market watchdog is working to introduce more disclosures to safeguard investors.

Among the broader indices, the BSE MidCap index slipped 1.2 per cent, while the SmallCap shed 2.1 per cent.

Sectorally, the PSU indices bore the brunt of the selling with the BSE PSU and CPSE both down 1.8 per cent.

Global Cues

Asian stocks nudged higher on Tuesday ahead of the influential U.S. inflation report, while Japanese shares fell and the yen firmed on rising expectations that the Bank of Japan may be ready to exit ultra easy-monetary policy as early as next week.

Tokyo stocks opened lower on Tuesday after a mixed finish on Wall Street, where traders were cautious ahead of fresh consumer inflation data.The benchmark Nikkei 225 index fell 1.20 percent, or 466.90 points, to 38,353.59 in early trade, while the broader Topix index was down 1.45 percent, or 38.62 points, to 2,628.21.

The S&P 500 and Nasdaq ended down slightly on Monday with investors preparing for this week’s consumer and producer price data, which they hope will provide a better idea of whether the Federal Reserve can begin cutting interest rates in the coming months.