Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over the India-EU free trade agreement (FTA).
The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48. During the day, it hit a high of 82,084.92 and a low of 81,088.59. The 50-share NSE Nifty surged 126.75 points or 0.51 per cent to end at 25,175.40.
From the 30-Sensex firms, Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India, UltraTech Cement and Bharat Electronics were among the biggest gainers. Axis Bank jumped over 4 per cent after the firm reported a 4 per cent growth in its December quarter net profit to Rs 7,010.65 crore against Rs 6,742.99 crore in the year-ago period. In contrast, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC were among the laggards.
Indian equities continued to trade with a measured and cautious undertone. The finalisation of the India-European Union bilateral trade agreement lent some support to investor sentiment amid a broader risk-off environment triggered by US tariff measures. However, sustained selling by foreign portfolio investors and muted third-quarter corporate earnings growth capped any meaningful upside in domestic equities.
Foreign institutional investors offloaded equities worth Rs 4,113.38 crore on Friday, while domestic institutional investors bought stocks worth Rs 4,102.56 crore, according to exchange data. Equity markets were closed on Monday for Republic Day.
Also read: Sensex plunges 770 pts amid extensive sell-off
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