RIL, Kotak Bank lift Sensex by 383 points; Nifty ends above 18,250

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Indian benchmark equity indices settled higher on Tuesday led by gains in metals and IT stocks. Sensex closed at 61,350.26, up 383.21 points or 0.63%, while Nifty ended 132.20 points or 0.73% higher at 18,257.60.

“Following a strong opening backed by positive gains in global markets, domestic indices were torn between gains and losses in today’s volatile trade. Broad-based buying led by auto, realty, and metal stocks aided the bourses to bell the day in positive territory. However, continuous selling by the FIIs in the market fanned investor cautiousness. Upbeat quarterly earnings outweighing inflation worries boosted the morale of global markets,” said Vinod Nair, Head of Research at Geojit Financial Services.

Gainers & losers

Sectoral strand

All major sectoral indices on the NSE ended in the green with the Nifty Realty standing tall with gains of 3.53%, followed by the Nifty Media index surging 2.99%, the Nifty Metal index gaining 2.40% and Nifty Auto rallied 2.04%. While Nifty FMG, Nifty IT, Nifty Pharma and Nifty Bank were up anywhere between 0.15-0.70%.

The volatility gauge India VIX cooled off by 4.77% to 16.77 levels.

Broader markets

After five days of sell-off, the broader markets saw a relief rally and outperformed the benchmark indices with a wide margin in today’s session. The BSE MidCap index surged 440 points or 1.75% to 25,584. Likewise, the BSE SmallCap index settled at 28,449 advancing 612 points or 2.20%.

Bulls overpowered bears in today’s session as 2,218 shares advanced compared to 1,056 declining and 145 remained unchanged.

Global markets

European stocks rallied across the board on Tuesday, 26 October 2021 as positive corporate earnings offered a tailwind to global markets. Meanwhile, Asian stocks traded mixed after major indexes on Wall Street rose to record closing highs.

South Korea’s economy grew at a slower pace in the third quarter, as robust exports were offset by weak domestic demand and construction and facility investments, data from the Bank of Korea showed on Tuesday. Gross domestic product (GDP) grew a seasonally adjusted 0.3% in the September quarter from three months earlier, slowing from 0.8% growth in the preceding quarter.