Sensex Ends Higher On Value-Buying; Broader Markets Support

The Indian benchmark indices ended tad higher on Tuesday amid value-buying in frontline stocks as investors shrugged-off concerns over Britain's exit from the European Union.

Further, short-covering ahead of June derivatives expiry on Thursday and hopes of good monsoon also lifted market sentiments, pushing FMCG stocks higher.

Sensex Ends Higher On Value-Buying; Broader Markets Support
Sensex27,902.31Sensex Quote-13.59 [0.05%]
Nifty8,612.45Nifty Quote-2.80 [0.03%]

The BSE SENSEX closed 121.59 points or 0.46 per cent higher at 26524.55, while the NSE Nifty ended at 8127.85, up by 33.15 points or by 0.41 per cent.

In the value-buying trade, the BSE Sensex touched intraday high of 26583.33 and intraday low of 26378.46, while the NSE Nifty touched intraday high of 8146.35 and intraday low of 8086.85.  

The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1543.30,+4.39%), Hindustan Unilever Ltd. (Rs. 887.75,+3.25%), ITC Ltd. (Rs. 368.35,+2.59%), Cipla Ltd. (Rs. 496.85,+1.61%), Coal India Ltd. (Rs. 313.15,+1.43%), among others.

Meanwhile, Tata Motors Ltd. (Rs. 440.35,-1.84%), Tata Consultancy Services Ltd. (Rs. 2461.80,-1.34%), Wipro Ltd. (Rs. 542.40,-1.22%), Sun Pharmaceutical Industries Ltd. (Rs. 766.20,-0.99%), Hero MotoCorp Ltd. (Rs. 3025.50,-0.95%), were among top losers on BSE.

On the sectoral front, FMCG and metal stocks emerged as top gainers, adding as much as 1.75 per cent and 1.01 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2935, shares advanced were 1664 while 1065 shares declined and 206 were unchanged.

On the global front, the Asian stocks ended mostly in green, barring Hang Seng, with China"s Shanghai Composite closed 0.5 per cent after the People"s Bank of China weakened the yuan fixing by the most since August in response to the surge in the dollar.

Japan"s Nikkei 225 ended flat as Prime Minister Shinzo Abe issued instructions to calm markets following the UK"s stunning decision to quit EU.

Dion Global Solutions

Read more about: sensex, nifty
Story first published: Tuesday, June 28, 2016, 16:48 [IST]
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