Sensex ends 183 points up, Nifty crosses 8,200 mark on positive cues from oil and auto trade
Investors are anxious about the outcome of the US Federal Reserve meeting, which concludes on Wednesday, expecting a spillover effect on other markets.
Indian markets traded relatively higher on Tuesday, encouraged by gains in oil, auto and gas shares. The Bombay Stock Exchange Sensex ended 183 points up at 26,697, while the National Stock Exchange Nifty50 closed at 8,222 points.
Tata Motors, Adani Ports, Axis Bank, Wipro and RIL led the gainers on the BSE indices, while GAIL India, Lupin, Tata Steel and HUL lost out during the day’s trade. Major gainers during Tuesday’s trade on the Nifty indices included Tech Mahindra, Bharat Petroleum, RIL, Sun Pharma, ITC, Wipro, Bank of Baroda, Tata Power, Yes Bank and State Bank of India. UltraTech Cement, Hindalco, BHEL, GAIL, Tata Steel and ACC trailed the list.
BSE’s midcap index plunged 0.43% lower, while the smallcap index fell by 0.07%.
However, investors are anxiously awaiting news from the United States Federal Reserve meeting, which starts on Tuesday evening and concludes on Wednesday. The meeting will determine interest rates in the country, which could lead to a spillover effect in other markets, NDTV reported.
Other Asian markets were also on the edge over speculation about the Federal Reserve meeting. The Hang Seng index rose by 0.1 % to end at 22,446.70 points, while the Hong Kong China Enterprises index increased by 0.2% to 9,719.94 points. Japan’s Nikkei ended the day’s trade 0.5% higher.