Share Market Closing Bell, September 16: Domestic equity benchmarks registered sharp gains on Tuesday amid strong buying interest in financial and auto shares, though selling pressure in FMCG scrips limited the upside. Both headline indices rose 0.7 per cent for the day. Analysts said optimism around US-India trade talks and the incoming GST 2.0 reform, reducing the retail prices of a sizeable number of products across categories ranging from automobiles to FMCG items, continued to support investor sentiment on Dalal Street. Â
The Sensex gained 595 points to end at 82,380.7 while the Nifty50 climbed to 25,239.1, rising 169.9 points for the day.
Globally, investors awaited the outcome of a key Federal Open Market Committee (FOMC) meeting this week, where the US central bank is widely expected to announce a reduction in benchmark interest rates.Â
Top Nifty 50 gainers and losers
Among blue-chip stocks, Kotak Mahindra Bank, Larsen & Toubro (L&T), Mahindra & Mahindra (M&M), Eicher Motors, Maruti Suzuki, Bharti Airtel and Grasim — closing between 1.7 per cent and 2.7 per cent higher — rose the most among the 42 gainers in the Nifty50 basket.Â
On the other hand, Shriram Finance, Asian Paints, Nestle India and Tata Consumer Products — closing between 0.6 per cent and 0.8 per cent lower — were the top laggards in the 50-blue-chip universe.Â
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Top Sensex and Nifty 50 movers
Among index heavyweights, L&T and Bharti Airtel were the biggest contributors to the gains in both main barometers.Â
Nifty BankÂ
The Nifty Bank — whose 12 constituents include stocks like SBI and HDFC Bank — rose half a percentage point for the day after seesawing within a more than 400-point range around the flatline during intraday trade. Financial services shares enjoy the maximum weightage of almost 37 per cent in the Nifty50 pack.Â
Midcap and smallcap stocksÂ
Among broader indices, the Nifty Midcap 100 and the Nifty Smallcap 100 closed half a per cent and one per cent higher, respectively, reflecting strong buying interest across minnows.Â
Overall market breadth was in favour of the bulls, as eight stocks rose for every five falling stocks on BSE.Â
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Global markets
European markets began the day on a sluggish note, with the pan-continental Stoxx 600 index trading 0.3 per cent a few hours into the day’s trade. That was in contrast with gains across other major Asian markets.Â
Dow futures were barely in the green, trading around 20 points higher at the last count and indicating a flat start in Tuesday’s trade on Wall Street.
