Indian shares recovered from an early slide to end modestly higher on Tuesday.
The benchmark S&P/BSE Sensex rose 363.99 points, or 0.45 percent, at 80,369.03, extending gains for a second straight session.
The broader NSE Nifty index closed up 127.70 points, or 0.2 percent, at 24,466.85.
Financials took the lead, with SBI rallying more than 5 percent after its newly appointed chairman said he would like to leverage the bank’s technology and digitalization to reach the under-served across the country amid intense competition for deposits.
SBI Life, HDFC Life, Eicher Motors and BEL jumped 3-5 percent.
Automakers led losses, with Hero MotoCorp, Tata Motors and Maruti Suzuki India falling 3-4 percent due to concerns over subdued festive demand.
Sun Pharma dropped 2 percent despite reporting a 28 percent rise in quarterly profit. Peer Dr Reddy’s Laboratories fell 2.5 percent after shares turned ex-split on Monday.
Market Analysis
Sensex, Nifty Extend Gains For Second Day; Auto And Pharma Stocks Decline
2024-10-29 10:35:11
