Sensex, Nifty End Modestly Higher Led By Banks
Indian shares ended higher on Tuesday, with much of the gains coming toward the fag-end of the session.
The rupee breached the 80-mark against the dollar, serving to keep underlying sentiment cautious to some extent.
Global cues were mixed, with Asian markets closing mostly lower after reports of a spending slowdown at tech giant Apple and a mixed earnings update from IBM. New Covid-19 cases in China jumped to almost 700, adding to concerns about the prospect of a global recession.
European stocks edged higher in choppy trade despite reports that a 50-bps rate hike is on the cards at the upcoming ECB policy meeting.
Closer home, the benchmark S&P BSE Sensex recovered from an early slide to end the session up 246.47 points, or 0.45 percent, at 54,767.62.
The broader NSE Nifty index settled at 16,340.55, up 62.05 points, or 0.38 percent, from its previous close.
Among the prominent gainers, Tata Steel, IndusInd Bank, Mahindra & Mahindra, Apollo Hospitals Enterprise and Axis Bank all rose about 2 percent.
ONGC lost 3 percent as oil prices fell in European trade after surging more than $5 a barrel in the previous session on concerns about tight supply.
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