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Sensex continues gaining streak for 3rd straight session, Nifty tops 17,800; PSBs decline

Among the top gainers during today’s trade were Maruti Suzuki, Mahindra and Mahindra, Asian Paints, HUL, Ultratech Cement, Tech Mahindra, and HDFC, rising between 1 and 2.3 per cent. On the flip side, Airtel, State Bank of India, Bajaj Finance, and TCS were among the drags, declining up to 0.9 per cent.

ET Now Digital

Updated Aug 16, 2022, 15:54 IST

New Delhi: Domestic benchmark indices continued their gaining run for the third straight session on Tuesday as easing inflation (CPI and WPI) data kept the bulls in charge on the Dalal Street. India's consumer inflation eased to 6.71 per cent in July, aided by a slower increase in food and fuel prices. The wholesale price-based inflation eased to a five-month low of 13.93 per cent in July.

The BSE Sensex advanced 379 points to settle at 59,842 while NSE Nifty rose 127 points to 17,825 even as Asian stocks struggled for direction over tension concerning global growth following weak China data. Among the top gainers during today’s trade were Maruti Suzuki, M&M, Asian Paints, HUL, Ultratech Cement, Tech M, and HDFC, rising between 1 and 2.3 per cent.

On the flip side, Airtel, SBI, Bajaj Finance, and TCS were the only losers, down up to 0.9 per cent.

On the stock-specific front, shares of Life Insurance Corporation of India (LIC) jumped 2.5 per cent after the country's biggest insurer posted a 20 per cent jump in June-quarter premium income on Friday.

Shares of automaker Mahindra and Mahindra surged as much as 3.12 per cent to Rs 1,298.70, their record high after MAHM and Volkswagen AG announced expansion of their MEB alliance to accelerate the electrification of the Indian auto market on Monday.

In the broader markets, the BSE MidCap and SmallCap indices closed with 1 per cent gains each. Sectorally, the Nifty Auto index jumped 2.5 per cent, followed by the Nifty Realty index (up 2 per cent). However, the Nifty PSB index witnessed a 0.3 per cent decline.

Domestic markets were closed for trading on Monday as the nation marked its 75th Independence Day, while the currency and debt markets remained closed on Tuesday on account of 'Parsi New Year'.

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