Sensex Gains 249 pts At Close, Nifty Tops 18,400; FMCG, IT Counters Top Drags

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Sensex Today: The key benchmark rallied smartly in late deals on the back of buying support in select index heavyweights like ICICI Bank, Bharti Airtel and Infosys.

The S&P BSE Sensex, which, touched a low of 61,437 earlier, surged to a high of 61,956 – up 519 points from the day’s low. The BSE benchmark finally settled with a gain of 249 points at 61,873. The NSE Nifty ended 74 points higher at 18,403.

Among stocks, Greaves Cotton surged nearly 8 per cent on posting Rs 29 crore profit in Q2 from a loss of Rs 23 crore a year-ago.

NDTV also hit the 5 per cent upper circuit after the Adani group received SEBI nod for the open offer to buy additional 26 per cent stake in the former.

Global Cues:

Asian share markets were mixed on Tuesday and oil was weaker as investors sought to digest the economic implications of China’s COVID policy adjustments and a rescue package for the country’s struggling property sector.

 Tokyo’s key Nikkei index opened flat on Tuesday after Wall Street retreated following rallies last week that were fuelled by hopes the Federal Reserve would ease its interest-rate hikes.The benchmark Nikkei 225 index was down 0.01 per cent, or 2.85 points, at 27,960.62 in early trade after drifting between positive and negative territories, while the broader Topix index was up 0.23 per cent, or 4.52 points, at 1,961.42.

Wall Street’s main indexes ended lower on Monday, with real estate and discretionary sectors leading broad declines, as investors digested comments from US Federal Reserve officials about plans for interest rate hikes and looked for next catalysts after last week’s big stock market rally.

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