Asian Paints, Hindustan Unilever Limited, UltraTech Cement, Bharti Airtel, Maruti, M&M and Kotak Mahindra Bank were the biggest gainers
Asian Paints, Hindustan Unilever Limited, UltraTech Cement, Bharti Airtel, Maruti, M&M and Kotak Mahindra Bank were the biggest gainers
Benchmark indices rebounded on Tuesday after a two-day sharp decline, with the Sensex jumping above 173 points in early trade but later getting restless.
The 30-piece BSE Sensex was trading 173.39 points higher at 54,644.06 on early deals. The NSE Nifty gained 50.65 points to 16,352.50.
Both benchmark indices later traded flat in highly volatile trading.
Among the Sensex companies, the biggest gainers were Asian Paints, Hindustan Unilever Limited, UltraTech Cement, Bharti Airtel, Maruti, M&M and Kotak Mahindra Bank.
In contrast, Infosys, Tata Steel, Reliance Industries and Titan lagged behind.
“The US parent market has weakened significantly with the Nasdaq, S&P 500 and Dow at 1-year lows. The European markets are moving in step with the US markets. India is doing relatively better, thanks to consistent buying by DIIs and retail investors,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Elsewhere in Asia, Tokyo, Hong Kong and Seoul markets traded lower, while Shanghai traded marginally higher.
The US stock exchanges fell sharply on Monday.
Meanwhile, international oil benchmark Brent fell 1.99% to $103.88 a barrel.
Foreign institutional investors continued to sell £3,361.80 billion worth of shares, according to stock market data on Monday.
“Wall Street fell to its lowest level in more than a year on Monday as markets were already being hit by rising interest rates. Indian equity indices may come under pressure after global equities decline.
“Asian markets are trading lower on expectations of an economic slowdown amid rising inflation, higher interest rates and strict COVID-19 lockdown restrictions in Shanghai,” said Mohit Nigam, Head – PMS, Hem Securities.
The Sensex was down 364.91 points, or 0.67%, at 54,470.67 on Monday. The NSE Nifty fell 109.40 points, or 0.67%, to end at 16,301.85.
