Sensex, Nifty close flat amid weak global cues; banking, auto stocks top gainers

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Indian market closed marginally higher in a volatile session on Tuesday amid gains in auto, banking and consumer durables stocks.

Continuing its gains for the fifth straight session, Sensex closed 20.86 points higher at 58,136. Nifty ended at 17,345.45, up 5.40 points.

Of 30 Sensex stocks, 16 ended in the red. IndusInd Bank, Asian Paints, NTPC, Maruti Suzuki, Hindustan Unilever, State Bank of India, Mahindra & Mahindra and Power Grid were the top gainers, rising up to 2.59 per cent.

Tech Mahindra, HDFC, Larsen & Toubro, Tata Steel and HDFC Bank were the biggest Sensex losers, falling up to 1.63 per cent.

“Global indicators did not favour bulls, with most Asian and Western markets trading lower over concerns of rising geopolitical tension between the US and China. Additionally, economic data point to a decrease in demand, major markets throughout the world are trading with recessionary fears,” said Vinod Nair, Head of Research at Geojit Financial Services.

The domestic market, however, has proven resilient thanks to increased demand in heavyweights and a strengthening Indian rupee underpinned by falling US treasury yields and FII buying, Nair added.

Share Market update: Sensex, Nifty close flat; IndusInd Bank, Asian Paints top gainers

Mid-cap and small-cap indices rose 122 points and 94 points, respectively.

Auto, banking, and consumer durables shares were the top sectoral gainers with their BSE indices zooming 185 points, 143 points and 177 points, respectively.

Market breadth was positive with 1,892 stocks ending higher against 1,479 stocks falling on BSE. 123 shares were unchanged.

Meanwhile, the rupee closed 41 paise higher at 78.65 against the US dollar on Tuesday, buoyed by persistent foreign fund inflows into capital markets and softening crude oil prices.

At the interbank forex market, the currency opened strong at 78.96 against the greenback and saw an intra-day high of 78.49 and a low of 78.96.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,320.61 crore on Monday, as per exchange data.

Equity market ended higher for the fourth session on Monday, tracking strong global cues and inflows of fresh foreign funds.

Sensex climbed 545.25 points to end at 58,115.50. During the day, the index jumped 600.42 points or 1 per cent to 58,170.67. Nifty gained 181.80 points or 1.06 per cent to 17,340.05.

Global markets

In Asia, markets in Seoul, Shanghai, Tokyo and Hong Kong ended lower.

European stocks were also trading lower during mid-session deals. The US markets had ended in the red on Monday.

Meanwhile, international oil benchmark Brent crude declined 0.72 per cent to $99.31 per barrel.

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