Indian shares managed to secure modest gains on Tuesday, following significant losses in the prior session due to concerns over the HMPV Virus outbreak in the country. As the virus cases in India rose to five, state governments and authorities have been diligent in reassuring the public, emphasizing that panic is unnecessary.
Positive global trends and a weakening dollar contributed to maintaining investor confidence, though gains were tempered by caution ahead of the Q3 earnings season. The benchmark indexes, Sensex and Nifty, rebounded from their worst performance in three months, driven by upticks in banking, IT, and energy sectors.
The BSE Sensex concluded the session up by 234.12 points, or 0.30%, reaching 78,199.11. Meanwhile, the NSE Nifty index advanced by 91.85 points, or 0.39%, settling at 23,707.90. Mid-cap and small-cap stocks outperformed the broader market, with the BSE mid-cap index and the BSE small-cap index rising by 0.8% and 1.7%, respectively.
Market breadth on the BSE was positive, as evidenced by 2,626 stocks advancing, compared to 1,357 declining, and 103 remaining unchanged. Leading the gainers were Adani Enterprises, Tata Motors, HDFC Life, SBI Life, and ONGC, each climbing between 2-4%.
Conversely, shares of Tech Mahindra, Eicher Motors, TCS, HCL Technologies, and Trent saw declines of 1-2%. Noteworthy was Mobikwik, which surged 8.3% following a sequential narrowing of its quarterly net loss.
The material has been provided by InstaForex Company -
www.instaforex.com
