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NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%NIFTY 5022,453.30+0.98%SENSEX74,235.62+1.24%BANK NIFTY48,892.15+1.45%NIFTY IT35,124.80-0.52%NIFTY MIDCAP52,487.25+0.87%

Sensex, Nifty End Higher on Late Buying, Falling Crude Oil

By ThePip Desk

Indian equity benchmarks Sensex and Nifty closed higher Tuesday, recovering from intraday losses driven by fag-end buying and a decline in crude oil prices. FIIs also showed buying interest.

Indian equity benchmarks concluded Tuesday’s trading session in positive territory, recovering from intraday declines. The rebound was primarily driven by late-session buying interest and a notable drop in crude oil prices, which collectively calmed investor sentiment.

Foreign Institutional Investors (FIIs) also contributed to the positive momentum, purchasing equities worth Rs 1,181.66 crore on Monday, thereby ending a two-session selling streak. Both the BSE Sensex and CNX Nifty staged a significant recovery towards the close of trade.

Key Market Figures

  • BSE Sensex rose 286.98 points, or 0.37%, to settle at 77,656.09.
  • CNX Nifty advanced by 115.50 points, or 0.48%, closing at 24,334.55.
  • Gains were concentrated in Telecom, Consumer Durables, and Healthcare sectors.

Investors closely monitored the Nifty 50’s inaugural monthly derivatives expiry under the new closing auction session (CAS) for stocks with futures and options contracts. This new mechanism aimed to enhance price discovery and reduce volatility at market close.

Economic & Diplomatic Highlights

  • Union Minister Piyush Goyal stated India recorded 7.7 per cent growth last year and aims for a $30 trillion economy by 2047.
  • India and Cambodia completed negotiations for a bilateral investment treaty (BIT), agreeing to sign the pact soon to boost economic ties.
  • FICCI President Anant Goenka raised concerns about India’s widening trade deficit with Japan, highlighting difficulties for Indian exporters.
  • Discussions between India and Mauritius focused on strengthening cooperation in public service, training, and capacity building.

Global Market Overview

Internationally, European markets traded higher, while most Asian markets also closed positively. Global investors largely set aside geopolitical tensions in the Middle East, instead looking towards upcoming Nvidia earnings, a crucial U.S. inflation report, and Federal Reserve Chairman Kevin Warsh’s debut speech at the annual Jackson Hole conference for market direction.

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