Indian shares eked out modest gains on Tuesday after suffering heaving losses in the previous session on worries about the HMPV Virus outbreak in the country.
As the total number of virus cases in India increased to five, state governments and authorities have reassured the pubic that there was no need to panic.
Firm global cues and a weaker dollar also helped underpin sentiment while the upside remained capped due to anxiety ahead of the Q3 earnings season.
Benchmark indexes Sensex and Nifty both recovered from their worst performance in three months, led by gains in banking, IT, and energy stocks.
The BSE Sensex ended up 234.12 points, or 0.30 percent, at 78,199.11 while the NSE Nifty index closed at 23,707.90, up 91.85 points, or 0.39 percent, from its previous close.
Second-line stocks outperformed, with the BSE mid-cap index and the BSE small-cap index adding 0.8 percent and 1.7 percent, respectively.
The market breadth was positive on the BSE, with 2,626 shares rising while 1,357 shares declined and 103 shares ended unchanged.
Among the top gainers, Adani Enterprises, Tata Motors, HDFC Life, SBI Life and ONGC rallied 2-4 percent.
On the flip side, Tech Mahindra, Eicher Motors, TCS, HCL Technologies and Trent dropped 1-2 percent.
Mobikwik soared 8.3 percent after the company narrowed its quarterly net loss sequentially.
Market Analysis
Sensex, Nifty Rebound In Cautious Trade
2025-01-07 10:22:33
