Market snaps 4-day losing streak, with Nifty finishing near 25,200

The stock market snapped four-day losing streak with Nifty finishing near 25,200 on Tuesday. At close, the Sensex was up 317.45 points or 0.39 per cent at 82,570.91, and the Nifty was up 113.50 points or 0.45 per cent at 25,195.80. Bulls took the charge after a flat start for the day helping Nifty to inch closer to 25,250, intraday, led by buying across the sectors. The mid- and small-cap segments continued their outperformance as the BSE Midcap index rose 0.83 per cent, and the Smallcap index gained 0.95 per cent. The overall market capitalisation of firms listed on the BSE rose to over Rs 460 lakh crore from 457.6 lakh crore in the previous session. Among the sectors, all indices ended higher. 

 

Nifty Auto was up 1.50 per cent, Healthcare up by 1.23 per cent, and Pharma up by 1.14 per cent. The Nifty Bank index rose 0.43 per cent, while the Financial Services index climbed 0.47 per cent. PSU Bank index outperformed with a gain of 0.87 per cent, and the Private Bank index climbed 0.13 per cent. On Nifty50, around 35 stocks ended higher. The top gainers were Hero MotoCorp was up 4.95 per cent, Bajaj Auto up by 2.81 per cent and Sun Pharma up by 2.76 per cent. While the top losers were HCL Technologies down by 3.26 per cent, SBI Life Insurance Company down 1.50 per cent and Eternal down by 1.37 per cent. HCL Tech shares slipped 3 per cent after the information technology giant reported disappointing earnings for the first quarter of the current fiscal year. 

 

Shares of One97 Communications, the parent company of payments aggregator Paytm, rose over 2 per cent. On BSE, around 150 stocks hit their 52-week highs in intraday trade. These included HDFC Asset Management Company, Anupam Rasayan India, Ceat, Gillette India, Godfrey Phillips India, Laurus Labs, Global Health, Nippon Life India Asset Management, and UTI Asset Management Company among others. Further easing of CPI inflation also triggered notable buying in rate-sensitive sectors in hopes of a potential rate cut.