Sensex, Nifty Edge Up As Markets Extend Gains To Third Day
Domestic stock markets trimmed most of intraday gains on Tuesday but managed to close higher for a third day in a row. The NSE Nifty 50 index rose as much as 0.52 per cent during the session to its best level recorded since late February, and the S&P BSE Sensex benchmark climbed up 0.54 per cent to 39,008.89. A drop in heavyweights Reliance Industries and HDFC Bank countered hopes around US-China trade talks and potential coronavirus treatments.
The Sensex ended 44.80 points - or 0.12 per cent - higher at 38,843.88, and the Nifty settled at 11,478.65, up 12.20 points - or 0.11 per cent - from its previous close. (Track Sensex, Nifty LIVE)
Tata Motors, Bajaj Finance, SBI, Tech Mahindra and Eicher Motors, ending between 2.18 per cent and 5.32 per cent higher, jumped the most among the 21 percentage gainers in the 50-scrip Nifty basket.
On the other hand, GAIL, NTPC, Sun Pharma, Tata Steel and Dr Reddy's, closing between 1.17 per cent and 1.72 per cent lower, were the top Nifty losers.
State Bank of India (SBI), ICICI Bank and Bajaj Finance were the biggest boosts to Sensex, countered by losses in Reliance Industries, Infosys and Larsen & Toubro.
Meanwhile, analysts awaited the release of official data on the country's GDP due next week for more clarity on the damage caused by the coronavirus pandemic.
Global equities rose after the US and China said they were still committed to the first phase of their trade deal, amid increased optimism around the development of a COVID-19 vaccine.
