The Indian benchmark indices continued their gaining streak for the second day on Tuesday, ahead of a Reserve Bank of India policy review on Wednesday, tracking firm cues from fellow Asian peers. The market is expecting rate action by RBI due to low inflation data and expectations of a further strengthen in deflationary forces.
The 30-share benchmark index closed trade at 26392.76, up by 43.66 points or by 0.17 per cent, and the NSE Nifty ended at 8143.15, up by 14.4 points or by 0.18 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 26502.43 and intraday low of 26356.02, while the NSE Nifty touched intraday high of 8178.7 and intraday low of 8130.85.
The industry expects a 25 bps rate cut on Wednesday amid downside risks to growth following the notes ban and subdued inflation.
In line with benchmark indices, the broader market also ended in positive terrain with the BSE MIDCAP closing at 12344.34, up by 64.28 points or by 0.52 per cent, while the BSE SMLCAP settled at 12164.11, up by 49.39 points or by 0.41 per cent.
The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1243.80,+2.07%), Tata Steel Ltd. (Rs. 418.35,+1.16%), Oil And Natural Gas Corporation Ltd. (Rs. 298.50,+1.08%), Adani Ports & Special Economic Zone Ltd. (Rs. 272.05,+1.04%), State Bank of India (Rs. 259.15,+0.95%), among others.
On the flip side, Hindustan Unilever Ltd. (Rs. 835.35,-1.24%), Maruti Suzuki India Ltd. (Rs. 5141.70,-1.20%), Power Grid Corporation of India Ltd. (Rs. 182.90,-1.11%), Sun Pharmaceutical Industries Ltd. (Rs. 706.00,-0.99%), ITC Ltd. (Rs. 230.25,-0.95%), were among top losers on BSE.
On the sectoral front, realty and oil&gas stocks emerged as top gainers, adding as much as 1.73 per cent and 1.17 per cent respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2967, shares advanced were 1624 while 1181 shares declined and 162 were unchanged.