Sensex, Nifty close marginally up amid geopolitical concerns; extend gains to 5th day

PTI, Aug 2, 2022, 4:42 PM IST

Representative Image (Source: Pixabay)

The benchmark BSE Sensex and Nifty closed marginally higher in a volatile trade on Tuesday as gains in FMCG, power, and energy stocks helped the indices extend gains for a fifth straight day.

The 30-share BSE benchmark ended 20.86 points or 0.04 percent higher at 58,136.36 with 16 of its constituents ending in the red. During the day, it hit a high of 58,328.41 and a low of 57,744.70.

The broader NSE Nifty ended at 17,345.45, up 5.40 points or 0.03 percent.

Among Sensex constituents, IndusInd Bank, Asian Paints, NTPC, Maruti, Hindustan Unilever, State Bank of India, Mahindra & Mahindra and Power Grid were among the biggest gainers.

However, Tech Mahindra, HDFC, Larsen & Toubro, Tata Steel, and HDFC Bank were the biggest laggards.

”Global indicators did not favour bulls, with most Asian and Western markets trading lower over concerns of rising geopolitical tension between the US and China. Additionally, economic data point to a decrease in demand, major markets throughout the world are trading with recessionary fears,” said Vinod Nair, Head of Research at Geojit Financial Services.

The domestic market, however, has proven resilient thanks to increased demand in heavyweights and a strengthening Indian rupee underpinned by falling US treasury yields and FII buying, Nair added.

In Asia, markets in Seoul, Shanghai, Tokyo and Hong Kong ended lower.

European stocks were also trading lower during mid-session deals. The US markets had ended in the red on Monday.

Meanwhile, international oil benchmark Brent crude declined 0.72 percent to USD 99.31 per barrel.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,320.61 crore on Monday, as per exchange data.