Sensex, Nifty Give Up Early Gains
(RTTNews) - Indian shares ended marginally higher on Tuesday, giving up early gains.
While investors cheered more dovish tones from Fed Chair Jerome Powell in his speech on Monday, apprehensions about a second Trump presidency and its implications for U.S. foreign policy prompted traders to book profits at higher levels.
With the odds for a Trump presidency increasing following an assassination attempt at his rally, markets grappled with the concept of the "Trump Trade," which implies deregulation, tax cuts, and increased fiscal spending.
A weaker dollar on U.S. rate cut optimism and weakening oil prices on Chinese demand concerns helped to limit losses, if any, in the broader market.
The benchmark S&P BSE Sensex hit an intraday high of 80,898 before closing up 52 points at 80,717.
The broader NSE Nifty index closed up 26 points at 24,613 after reaching a high of 24,661 early in the day.
Bharti Airtel, Tata Consumer Products, Hindustan Unilever, BPCL and Coal India climbed 2-3 percent in the Nifty pack while NTPC, Reliance Industries, Dr Reddy's Laboratories, Kotak Mahindra Bank and Shriram Finance fell 1-2 percent.
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