Mumbai: Market benchmark BSE Sensex ended marginally higher after a see-saw trade on Tuesday, snapping its two-day falling streak on the back of gains in index major Reliance Industries, Larsen & Toubro and Bajaj Finance.
After swinging 378 points during the day, the 30-share index settled 10.25 points or 0.03 per cent higher at 38,730.82. The index hit an intra-day low of 38,435.87 and a high of 38,814.23.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
During the day, the index hit a low of 11,461.00 and a high of 11,582.55.
Top gainers in the Sensex pack included Bajaj Finance, Sun Pharma, Hero MotoCorp, L&T, RIL and Bharti Airtel, ending up to 5.60 per cent higher.
TCS was the biggest loser in the index, dropping 2.05 per cent ahead of its quarterly results scheduled to be announced later in the day.
Yes Bank, ITC, HCL Tech, Maruti, Asian Paints, HDFC duo and Kotak Bank too fell up to 1.88 per cent, capping the index gains.
“Lack of real growth in the economy while equity is at premium valuation is impacting the market. IT bellwethers slid ahead of earnings season as anxiety over global growth and trade disputes cast cloud over revenue estimate. TCS is expected to report a mixed set of earnings for June quarter led by cost hikes,” Vinod Nair, the Head of Research, Geojit Financial Services, commented.
RBI Governor Shaktikanta Das’ statement about current financial system surplus, liquidity and its effect on facilitation of better transmission of rate cuts failed to cheer markets, said Narendra Solanki, Head Fundamental Research (Investment Services) – AVP Equity Research, Anand Rathi Shares & Stock Brokers.
Among sectoral indices, the BSE consumer durables index was the worst performer, tanking 6.76 per cent, followed by IT, FMCG and teck indices, falling up to 0.98 per cent.
On the other hand, BSE realty, healthcare, energy, capital goods, oil and gas, power and industrials indices rose up to 2.81 per cent.
Broader BSE midcap and smallcap indices ended in the green, rising up to 0.63 per cent.
Market breadth was negative as 1,263 scrips declined while 1,178 stocks advanced. Total turnover on BSE was Rs 2,369.85 crore.
Elsewhere in Asia, Shanghai Composite Index, Hang Seng and Kospi ended lower, while Nikkei settled in the green. Equities in Europe were also trading lower in their respective early sessions.
On the currency front, the Indian rupee rebounded to trade flat at 68.64 against the US dollar.
Meanwhile, the global oil benchmark Brent crude futures were trading 0.39 per cent higher at 64.36 per barrel. (PTI)
