Sensex today: Market Watch: Nifty reclaims 18,100 zone after 7 months

Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.

Taking their winning streak for the fourth consecutive day, benchmark equity indices closed higher on Tuesday, led by the IT, energy and financial stocks. The 30-share Sensex ended 375 points higher at 61,121, while its broader peer Nifty 50 ended above the 18,100 level.

Among Sensex stocks, NTPC, Power Grid Corp, Dr Reddy’s Labs, Infosys and TCS were the top gainers in today’s trading session, rising around 2-5 per cent. UltraTech Cement, HCL Tech, Asian Paints, Sun Pharma, Wipro and HDFC also settled higher.

However, Axis Bank, Maruti, Reliance, Tata Steel, Titan and L&T ended the session with cuts.

Sectorally, the Nifty Metal rose 2.38 per cent and Nifty Pharma surged 2.12 per cent. While Nifty IT and Nifty Healthcare also closed higher. In the broader market, Nifty Midcap50 advanced 0.83 per cent and Smallcap50 rose 0.47 per cent.

Earlier in Asian markets, Japan’s Nikkei 225, China’s Shanghai Composite and South Korea’s Kospi surged 0.33 per cent, 2.62 per cent and 1.81 per cent, respectively.

The rupee advanced on Tuesday as hopes that the US Federal Reserve could slow down the pace of its rate hikes buoyed risk appetite and hurt the dollar. The rupee closed at 82.69, against a previous close of 82.78. While the Brent crude January futures rose 1.80 per cent to $94.48 per barrel.

The market breadth was skewed in favour of bears. About 1,837 stocks declined, 1,611 gained and 134 remained unchanged. The market capitalisation of all listed companies on BSE increased by Rs 2.17 lakh crore to Rs 282.08 lakh crore.

Mr Ajit Mishra of Religare Broking said Nifty has reclaimed the 18,100+ zone almost after seven months and it is likely to continue this tone however we can’t ignore the possibility of an intermediate pause or dip.

That’s all for now. Do check out for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.

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