Sensex snaps 5-day losing run, closes 366 points higher
Mumbai, January 25: Snapping 5 days of losing run the Indian equities markets key indices closed in the positive on Tuesday with Sensex gaining 366 points.
After losing 1545.67 points or 2.62 per cent on Monday, the 30 stock S&P BSE Sensex of the Bombay Stock Exchange opened the trade in the red at 57,158.63 points and tumbled to a low of 56,409.63 points within a few minutes of opening of the trade on Tuesday.
However, the Sensex staged 1,449 points recovery from the intra-day low. The benchmark Sensex closed at 57,858.15 points, which is 366.64 points or 0.64 per cent higher when compared with its previous day’s close at 57,491.51 points.
The Sensex touched a high of 57,966.93 points in the intra-day.
The broader Nifty 50 of the National Stock Exchange closed 128.85 points or 0.75 per cent higher at 17,277.95 points as compared with its previous day’s close at 17,149.10 points.
The Nifty also opened in the negative at 17,001.55 points and touched a low of 16,836.80 points and high of 17,309.15 points in the intra-day.
Maruti Suzuki surged 6.88 per cent to Rs 8600.60 after the company announced better than expected third quarter results. The country’s largest carmaker reported a net profit of Rs 1,011.3 crore for the third quarter of the current financial year, which is 47.90 per cent lower when compared with Rs 1,941.4 crore recorded during the corresponding quarter of last fiscal. The market analysts had projected even lower profit as the company’s production was disrupted during the quarter due to a global shortage in the supply of electronic components.
Axis Bank soared 6.76 per cent to Rs 751.95 a day after the company posted 224 per cent surge in its third quarter profit year-on-year. The Bank on Monday said its net profit surged 224 per cent to Rs 3,614 crore during the third quarter of the current financial year as compared with the same quarter of last year.
State Bank of India surged 4.20 per cent to Rs 514.85. IndusInd Bank 3.87 per cent higher at Rs 882.75; Bharti Airtel 3.23 per cent higher at Rs 711.90; Power Grid Corporation 2.27 per cent higher at Rs 218.75; NTPC 2 per cent higher at Rs 135.20 and Hindustan Unilever 1.83 per cent higher at Rs 2328 were among the major Sensex gainers.
Only 12 of the 30 Sensex scrips closed in the red. Wipro slumped 1.75 per cent to Rs 562.85. Bajaj Finserv 1.16 per cent down at Rs 15526.35; Titan 0.98 per cent down at Rs 2379.40; Infosys 0.85 per cent down at Rs 1722.10; Tech Mahindra 0.80 per cent down at Rs 1500 and UltraTech Cement 0.79 per cent down at Rs 7101.35 were among the major Sensex losers.