Sensex, Nifty close higher for fourth session; M&M, RIL top gainers

Sensex, Nifty close higher for fourth session; M&M, RIL top gainers

Benchmark stock indices Sensex and Nifty rebounded from early lows to close marginally higher Tuesday following fag-end buying in energy, IT, and auto stocks and a recovery in global equities.

Sensex rose16 points to 53,177 and Nifty gained 18 points to 15,850 in today's session. M&M, Reliance Industries, Dr. Reddy's, and Tech Mahindra were the top Sensex gainers, rising up to 2.78 percent. Titan, Asian Paints, and Bajaj Finserv were the top Sensex losers, falling up to 3.54 percent.

Market breadth was positive with 1,793 stocks ending higher against 1486 stocks falling on BSE. 136 shares were unchanged.

Share Market update: Sensex, Nifty close flat; M&M, RIL top gainers

Consumer durables and banking stocks were the top sectoral losers with their BSE indices ending 526 pts and 180 points lower, respectively. On the other hand, top gainers were BSE oil and gas and auto indices rising 444 pts and 336 points, respectively.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "After showing move in the last three sessions, Nifty shifted into a consolidation with a positive bias on Tuesday and closed the day higher by 18 points. After opening on a negative note, the market has witnessed a gradual upside recovery from the lower levels. Intraday dips in between have been used to move up in the mid part. The opening downside gap has been filled completely and the Nifty closed at the highs. Having sustained above the important area of 15,750-15,800 levels, there is a possibility of further upside from here towards the next important resistance of 16,180 levels (opening downside gap of June 13)."

Meanwhile, the rupee plunged 44 paise today to close at a record low of 78.81 against the US dollar. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,278 crore on Monday, as per exchange data.

On Monday, the Indian market ended higher for the third straight session amid positive global cues. Sensex rose 433 points to 53,161 and Nifty gained 132 points to 15,832. L&T, HCL Tech, Infosys, and Tech Mahindra were the top Sensex gainers, rising up to 2.99 percent.  Kotak Bank, RIL, and Titan were the only Sensex losers, falling up to 0.45 percent.