Stock markets close higher on buying in Reliance, HDFC Bank

Mumbai: Benchmark stock indices Sensex and Nifty closed higher in a range-bound trade Tuesday following gains in Reliance Industries and HDFC Bank.

The 30-share BSE Sensex rose by 90.83 points or 0.11 per cent to settle at 83,697.29 with 13 of its constituents closing higher and 17 in the red. During the day, it rallied 267.83 points or 0.32 per cent to 83,874.29.

The 50-share NSE Nifty gained 24.75 points or 0.10 per cent to close at 25,541.80.

Among Sensex firms, Bharat Electronics, Reliance Industries, Asian Paints, UltraTech Cement, Kotak Mahindra Bank and HDFC Bank were the major gainers.

Axis Bank, Trent, Eternal and Tech Mahindra were among the laggards.

In Asian markets, South Korea’s Kospi and Shanghai’s SSE Composite index settled in the positive territory while Japan’s Nikkei 225 index ended lower. Markets in Hong Kong were closed. European markets were trading mostly lower.

The US markets ended higher on Monday.

Global oil benchmark Brent crude dipped 0.22 per cent to USD 66.56 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 831.50 crore on Monday, according to exchange data.

On Monday, the Sensex dropped 452.44 points or 0.54 per cent to settle at 83,606.46. The Nifty declined 120.75 points or 0.47 per cent to 25,517.05.

PTI

News