D-St Breather: Nifty Pares Losses, Ends Higher; Volatility to Remain, Warn Experts

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D-St Breather: Nifty Pares Losses, Ends Higher; Volatility to Remain, Warn Experts

By Malvika Gurung

Investing.com -- The Indian equity benchmark indices Nifty50 and BSE Sensex 30 snapped a five-day losing streak and ended Tuesday’s session higher, paring losses after witnessing a gap-down open.

Nifty50 ended a volatile session 0.75% higher and the 30-scrip Sensex climbed 0.64% on Tuesday, led by recoveries in bank and auto stocks, tracking recoveries in the US markets and upbeat earnings.

Analysts stated that low-level buying on Tuesday aided headline indices to rise after slumping for almost a week. 

However, volatility in the market is expected to remain as investors await the Fed’s final policy statement, which will provide clarity on the scheduled interest rate hikes, added an analyst at Geojit Financial Services.

All sectoral indices on the Nifty50 basket, except Nifty IT , ended in green on Tuesday. Nifty Bank ended 2.05% higher, while Nifty PSU Bank jumped 4.2%.

Nifty IT ended 0.33% lower, led by Wipro (NS: WIPR ), down 1.6%.

Broader market indices outperformed the benchmarks, as Nifty Smallcap advanced 0.9% and Nifty Midcap rose 1%.

On the 30-scrip Sensex, 60% of stocks ended higher. On the Nifty basket, Maruti Suzuki (NS: MRTI ), Axis Bank (NS: AXBK ), SBI (NS: SBI ), IndusInd Bank (NS: INBK ) and UPL (NS: UPLL ) stood among top gainers, while Wipro, Bajaj Finserv (NS: BJFS ), Titan (NS: TITN ) Company, Infosys (NS: INFY ) and Tech Mahindra (NS: TEML ) were among top losers.

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