Sensex, Nifty rise for third straight day as trade deal, global cues boost sentiment

Mumbai: Equity benchmark indices Sensex and Nifty advanced for the third straight session on Tuesday driven by firm global cues and optimism over India-US trade agreement, even as investors turned to profit-booking at higher levels.

The 30-share BSE Sensex climbed 208.17 points, or 0.25 per cent, to close at 84,273.92. During the session, the benchmark jumped 417.2 points, or 0.49 per cent, to hit a intraday high of 84,482.95.

The 50-share NSE Nifty rose 67.85 points, or 0.26 per cent, to finish at 25,935.15. In the intraday session, the index appreciated by 122.15 points, or 0.47 per cent, to hit a high of 25,989.45.

Among the Sensex constituents, Eternal, Tata Steel, Mahindra & Mahindra, PowerGrid, Tech Mahindra, NTPC, Larsen & Toubro, Tata Consultancy Services, Maruti Suzuki India, Axis Bank, Titan and Hindustan Unilever were among the gainers.

On the other hand, HCL Technologies, Bajaj Finance, Bharti Airtel, Asian Paints, HDFC Bank, UltraTech Cement, Adani Ports and ITC were among the laggards.

"Domestic equities continued their upward momentum, supported by the US trade agreement and positive cues from key Asian markets. A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering the investor sentiment, although intermittent profit-booking was visible across sectors," Vinod Nair, Head of Research, Geojit Investments Ltd, said.

He added that with tariff-related concerns largely easing, the near-term market trajectory is expected to hinge on Q3 earnings, which have been mixed and below expectations so far.

"Investors are now focused on the combined impact of recent fiscal and monetary measures to revive earnings momentum in the coming quarters," Nair said.

In Asian markets, Japan's Nikkei 225 index, Hong Kong's Hang Seng, South Korea's Kospi and Shanghai's SSE Composite index closed in the positive territory.

European markets were mostly trading higher in mid-session deals. US equities market ended higher on Monday.

Meanwhile, foreign institutional investors bought equities worth Rs 2,254.64 crore on Monday, according to exchange data.

Brent Crude, the global oil benchmark, slipped 0.20 per cent to USD 68.89 per barrel.

On Monday, the 30-share BSE Sensex jumped 485.35 points to close at 84,065.75, while the 50-share NSE Nifty appreciated by 173.60 points to settle at 25,867.30. PTI HG HVA