Market: On Tuesday the Sensex and Nifty regained their last day’s negativity and for the second day of the week, they ended on a positive note. They showed a bullish trend mainly accelerated by the growth in the IT sector and auto sector stocks with strong global cues. Regaining from the last day, Sensex closed at 38,430, 558 points higher than the previous trading while Nifty closed at 11,301 with a gain of 169 points. During the last trading day (Monday), the Sensex closed 194 points lower at 37,935 while Nifty decreased by 82 points to 11,132.
Market: Key highlights from Tuesday’s trading session:-
- The market rallied on the positive side for 2nd day of the week.
- Nifty moved up by 169 points to end at 11,301.
- Sensex earned 558 points to finally stand at 38,430.
- Nifty 50 reached 11,300 points.
- Reliance industries stood among the top nifty contributors.
- Nifty Auto remained the top sectoral winner, decreased by 3.21 percent.
- The share of the ICICI Bank decreased down for the third straight day.
- Except for media indices, all other indices closed in positive territory.
- Top Nifty contributors: TCS, RIL, and Kotak Mahindra Bank.
- market Sensex gainers: UltraTech Cement, Grasim, TCS, Mahindra and Mahindra, Tata Motors.
- Sensex Losers: Axis Bank, HUL and Infosys.
- Tata Motors increased by 4 percent.
- Nifty Bank rallied in green high with 256 points to 22,105.
- Citi Research increased its target price for the stock to Rs 155 apiece.
- The Gold reached its lifetime high at Rs. 52.435 with an international market value of $1981.10 per ounce.
- Commenting on today’s ups and downs in the share market, Shrikant Chouhan from Kotak Securities said –
“If we see the overall sectoral performance then we are seeing a lot of activity in cement companies and there is positive build-up along with positive price pattern. We like UltraTech Cement which is currently trading at Rs 3,920-3,930. We expect the stock to move towards Rs 4,100 levels, with stop loss at Rs 3,880-3,870 on the downside.”