Investors and brokers of a Rajasthan-based financial services watch the stock prices on a digital screen. File
| Photo Credit: ANI

Benchmark equity indices climbed in early trade on Tuesday amid buying in HDFC Bank and Reliance Industries along with a positive monsoon forecast.

The 30-share BSE Sensex climbed 194.9 points to 75,585.40 in early trade. The NSE Nifty went up by 59.95 points to 22,992.40.

From the Sensex firms, NTPC, JSW Steel, Tata Steel, Wipro, State Bank of India, Larsen & Toubro, Bajaj Finance, Mahindra & Mahindra, HDFC Bank and Reliance Industries were the biggest gainers.

Tech Mahindra, ITC, Power Grid, Asian Paints and Titan were among the laggards.

Equity benchmarks were on a record-breaking rally for the third straight day on Monday ahead of the results of Lok Sabha polls.

The results of the ongoing general elections will be declared on June 4.

“Nifty is expected to continue its upward trend, though key events like the exit poll results, GDP data, and May F&O expiry could influence the market. Positive monsoon forecasts are likely to support agricultural output and economic growth,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

India’s core monsoon zone covering most of the rain-fed agriculture areas in the country is likely to receive above-normal rainfall this season, the IMD said on Monday.

In Asian markets, Seoul and Hong Kong were quoting in the positive territory while Tokyo and Shanghai traded lower.

U.S. markets were closed on Monday for the Memorial Day holiday.

Global oil benchmark Brent crude climbed 0.23% to $83.29 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹541.22 crore on Monday, according to exchange data.

The BSE benchmark ended lower by 19.89 points or 0.03% at 75,390.50 on Monday. Intra-day, the barometer climbed 599.29 points or 0.79% to an all-time peak of 76,009.68.

The Nifty declined by 24.65 points or 0.11% to end at 22,932.45. The 50-issue barometer climbed 153.7 points or 0.66% to hit a new lifetime high of 23,110.80 during the day.

“As we approach the election results a bit of nervousness is visible in the market. The sharp correction in Nifty in the afternoon on Monday indicates this nervousness,” said V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

File image of a stock trader looking at a share price on a screen.
| Photo Credit: Vivek Bendre

Equity benchmark indices climbed in early trade on Wednesday in tandem with firm global market trends and buying in Reliance Industries and ITC.

The 30-share BSE Sensex climbed 212.21 points to 74,165.52 in early trade. The NSE Nifty went up by 48.35 points to 22,577.40.

Among the Sensex firms, Reliance Industries, NTPC, Hindustan Unilever, Asian Paints, Nestle and ITC were the major gainers.

State Bank of India, Power Grid, JSW Steel and Mahindra & Mahindra were among the laggards.

In Asian markets, Seoul, Shanghai and Hong Kong were trading in the positive territory while Tokyo quoted lower.

Wall Street ended in the green on Tuesday.

Global oil benchmark Brent crude declined 0.69% to $82.31 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,874.54 crore on Tuesday, according to exchange data.

The BSE benchmark declined 52.63 points or 0.07% to settle at 73,953.31 on Tuesday. The Nifty, however, ended higher by 27.05 points or 0.12% to 22,529.05.

A stock brokers react as Sensex and Nifty plummets.
| Photo Credit: ANI

Equity benchmark indices fell in early trade on Tuesday in line with weak Asian markets and continuous foreign fund outflows.

The 30-share BSE Sensex fell 98.14 points to 65,925.55. The Nifty declined 18.75 points to 19,655.80.

Among the Sensex firms, Asian Paints, Kotak Mahindra Bank, Tech Mahindra, Tata Consultancy Services, Infosys and Axis Bank were the major laggards.

Tata Steel, UltraTech Cement, Larsen & Toubro and Bharti Airtel were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended in the positive territory on Monday. Global oil benchmark Brent crude declined 0.45% to $92.87 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,333.03 crore on Monday, according to exchange data.

“Bearish sentiment across the Asian markets could drag down local shares in early Tuesday trade. FII selling in the current month so far has precipitated the fall, with rising U.S. dollar index and treasury yields coupled with higher crude oil prices further dampening the sentiment.

“Renewed worries over major central banks resorting to likely rate hikes to rein in inflation are making investors jittery about the sluggish demand and slowdown in growth going ahead,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment.

The BSE benchmark had eked out a marginal gain of 14.54 points or 0.02% to settle at 66,023.69 on Monday. The broader Nifty ended marginally up 0.30 points at 19,674.55.