The Bombay Stock Exchange Sensex on Tuesday climbed 173.01 points to end at 26,899.56, while the National Stock Exchange Nifty closed at 8,288.6, 52.55 points higher. The day’s trading opened on a positive note after value buying in certain blue-chip stocks and mixed global cues.
Oil and gas, auto, PSU and banking stocks saw the highest gains on the BSE index, led by Tata Motors, ICICI Bank, ONGC and Coal India. The 30-share index had reported a loss of 151.69 points in the previous two sessions over speculation of a slowdown in the country’s gross domestic product growth. Traders are also apprehensive about United States President-elect Donald Trump’s swearing in on January 20, the upcoming Budget Session and quarterly results.
The rupee, too, strengthened against the US dollar, trading 13 paise up at 68.13 at 2 pm. It has fallen 0.3% so far this year. The gain was attributed to the sale of American dollars by banks and exporters, according to The Economic Times.
Moreover, global oil prices stabilised considerably on Tuesday after losing nearly 4% in their biggest one-day loss in six weeks. The prices were affected by reports that oil exports from Iraq and Iran would sabotage the agreement that oil exporters, including Saudi Arabia and Russia, had arrived at, Reuters reported.
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