Market Wrap: Sensex, Nifty end in the green after rangebound trade; RIL share price falls for fourth consecutive session
Nifty ended in the green for the second consecutive session on Tuesday, supported by gains in the shares of select heavyweights, including HDFC Bank, Larsen and Toubro and Tata Steel amid positive global cues. However, losses in shares of Reliance Industries (RIL), Bharti Airtel and ICICI Bank capped the gains of the key indices. Global cues were largely positive.
Major European and Asian markets clocked healthy gains even a day after China announced measures, including cutting trading stamp duty and restricting new listings, to boost market sentiment. Read more: Can China's stamp duty cut on stock trades accelerate FII outflows from India? Experts weigh in However, the domestic market benchmarks remained rangebound throughout the session in the absence of a positive trigger. Index heavyweight Reliance Industries ended in the red for the fourth consecutive session as in the company's 46th Annual General Meeting (AGM), RIL Chairman Mukesh Ambani did not talk about the timelines regarding the telecom and retail IPOs.
Read more: Reliance share price in focus. Should you buy after the Reliance AGM 2023? Here's what experts say Sensex opened with a decent gain of 205 points at 65,201.35 against the previous close of 64,996.60 but it failed to build gains and traded in a range during the session. The index rose 232 points in intraday trade to touch the day's high of 65,229.03.
The Nifty50 hit an intraday high of 19,377.90. Sensex ended with a gain of 79 points, or 0.12 per cent, at 65,075.82. The Nifty50 moved up by 37 points, or 0.19 per cent, to 19,342.65.
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