Sensex, Nifty Snap Losing Streak, Close Modestly Higher

(RTTNews) - Indian stocks closed on a positive note on Tuesday despite giving up a substantial portion of intraday gains. Stocks moved higher thanks to positive global cues, and on bargain hunting after recent losses.

However, concerns about geopolitical tensions, uncertainty about U.S. interest-rate trajectory and a lack of significant triggers from the domestic front rendered the mood cautious and prompted investors to lighten commitments at higher levels.

Automobile, pharma, realty, technology and media stocks were among the prominent gainers.

The BSE benchmark Sensex, which surged to 78,451.65 around noon, gaining more than 1,100 points in the process, eventually ended the day's session with a gain of 239.37 points or 0.31% at 77,578.38, snapping a four-day losing streak.

The National Stock Exchange's Nifty50 settled with a gain of 64.70 points or 0.28% at 23,518.50, way down from the day's high of 23,780.65.

Mahindra & Mahindra gained more than 3.5%. Tech Mahindra and HDFC Bank both closed higher by about 2.25%. Sun Pharmacutical Industries, Tata Motors, Titan and UltraTech Cement gained 1.4 to 1.6%.

Power Grid Corporation, Infosys, Adani Ports, Axis Bank and Tata Consultancy Services posted moderate gains.

Dr Reddy's Laboratories, Eicher Motors, Wipro, Trent and ONGC also closed higher.

Reliance Industries,State Bank of India, Tata Steel, Bajaj Finserve, Maruti Suzuki and Larsen & Toubro lost 1 to 1.6%. Tata Consumer Products and Shriram Finance also ended weak.

The market breadth was positive till the end. On BSE, 2,362 stocks closed higher, and 1,601 stocks ended weak, while 96 stocks closed flat.