Mkts end on positive note

Mumbai: Stock market benchmark indices Sensex and Nifty found firmer ground on Tuesday, propelled by robust buying in banking, financial and auto stocks amid a largely firm trend in global equities. Besides, easing geopolitical tensions in the Middle East and falling global crude oil prices further bolstered sentiment, traders said. The 30-share BSE Sensex rebounded 378.18 points or 0.47 per cent to settle at 80,802.86. During the day, the benchmark soared 518.28 points or 0.64 per cent to 80,942.96. Rising for the fourth consecutive day, the NSE Nifty surged 126.20 points or 0.51 per cent to 24,698.85.

“The domestic market started the session with a strong surge, buoyed by positive global sentiment amidst Israel-Hamas ceasefire talks and diminishing US recession fears due to recent favourable data. Concurrently, easing geopolitical risks and weak China demand have led to a decline in crude prices, benefiting the domestic economy. Meanwhile, inflationary pressure in Japan and the appreciating Yen cautioned the rally. This week’s Japan inflation data and FOMC minutes will provide insights into future interest rate trajectories and market trends,” said Vinod Nair, head (research), Geojit Financial Services.