Sensex Ends 4-Day Losing Streak, Shuts 170 Points Higher; Nifty Tops 23,150 – News18
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Indian benchmark indices, BSE Sensex and Nifty50, opened higher on Tuesday, buoyed by mixed global cues.
Sensex Today.
Benchmark indices BSE Sensex and NSE Nifty50 ended their 4-day losing streak with gains on Tuesday. The 30-share Sensex rose by 169.62 points, or 0.22%, closing at 76,499.63. The index traded between 76,835.61 and 76,335.75 during the day.
The NSE Nifty50 also closed higher at 23,176.05, adding 90.10 points, or 0.39%. Nifty50 reached a high of 23,264.95 and a low of 23,134.15.
Out of the 50 stocks in the Nifty50, 34 ended in the green. Leading the gains were Adani Enterprises, Shriram Finance, Hindalco, Adani Ports, and NTPC, with increases of up to 7.05%. On the downside, 16 stocks closed lower, with HCL Tech, Hindustan Unilever, Apollo Hospitals, Titan, and Infosys among the top losers, with declines of up to 8.52%.
Adani group shares, including Adani Power, Adani Green Energy, Adani Energy Solutions, Adani Total Gas, Adani Ports & Special Economic Zone, ACC, and Ambuja Cements, saw significant gains, rising by up to 20%.
In the broader market, the Nifty Midcap100 and Nifty Smallcap100 indices gained 2.45% and 1.98%, respectively.
Except for Nifty IT and FMCG, all sectoral indices on the NSE closed in the green. Banking stocks performed well, with the NIFTY PSU Bank index rising by 4.20%, while the Bank Nifty and Nifty Private Bank indices advanced by 1.43% and 1.14%, respectively.
Other sectors like Nifty Auto, Metal, Media, Financial Services, and OMCs also closed with gains of up to 3.98%.
Global Cues
Markets in the Asia-Pacific region traded mixed on Tuesday, following a mixed session on Wall Street.
- Australia’s S&P/ASX 200 gained 0.26%.
- Japan’s Nikkei 225 fell by 1.54%, and the Topix dropped by 1.10%.
- South Korea’s Kospi edged down by 0.08%, while the Kosdaq rose by 0.25%.
- Hong Kong’s Hang Seng index was up 0.57%, and mainland China’s CSI 300 rose by 0.5%. The Shanghai Composite gained 0.59%.
Japan’s 40-year government bond yield rose to 2.755%, the highest since 2007, according to data from LSEG.
Global stock indices mostly saw declines on Monday, with US Treasury 10-year yields reaching 14-month highs. A resilient US economy and ongoing inflationary pressures led investors to consider the possibility that the Federal Reserve may pause its easing cycle.
The US dollar index surged to its highest level in over two years. While the Nasdaq dropped, the benchmark S&P 500 recovered from a two-month low to finish with a slight gain.
Investors are closely watching Wednesday’s US Consumer Price Index (CPI) data. Any upside surprises in the report could heighten concerns that the Fed may halt its rate cuts. A Reuters poll of economists anticipates a median forecast of a 2.9% annual rise, up from November’s 2.7%, with a monthly increase of 0.3%.
US producer prices data is also due on Tuesday.
On Friday, the US nonfarm payrolls report showed a stronger-than-expected gain of 256,000 jobs in December, the largest increase since March, well above the anticipated 160,000 rise.
Investors are also concerned about potential inflationary impacts from US President-elect Donald Trump’s policies on tariffs, migration, and taxes.
Markets are currently pricing in around 27 basis points of cuts from the Fed this year, with a 52.9% probability of a rate cut in June. The next Fed policy meeting is scheduled for January 28-29.
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