The Indian stock market finished in the green for the second consecutive session on Tuesday, as strong demand for banking, information technology, and pharmaceutical stocks helped to counter periods of volatility.
However, a declining rupee and sustained outflows of foreign funds limited the market’s gains. The BSE Sensex rose 0.21% to close at 61,294.20, and the NSE Nifty gained 0.19% to end at 18,232.55.
Among the top performers were Axis Bank, Titan, TCS, Tech Mahindra, Sun Pharma, IndusInd Bank, Wipro, and Nestle India. On the other hand, Mahindra & Mahindra, Reliance Industries, Hindustan Unilever, Tata Steel, Asian Paints, ITC, and NTPC lagged behind.
In the broader market, the BSE midcap index rose 0.22%, while the smallcap index gained 0.18%. Among sectoral indices, consumer durables led with a 1.56% increase, followed by healthcare (0.67%), IT (0.65%), financial services (0.64%), bankex (0.58%), and teck (0.53%).
Commodities, FMCG, auto, and metal sectors posted losses. The rupee weakened to 82.86 against the US dollar, despite initial gains, due to a strong dollar and foreign fund outflows.
Foreign institutional investors sold a net INR 628.07 crore ($76.5 million) worth of shares on Tuesday, according to exchange data.
Newsthatsnew
