Indian Markets recoup early losses to end higher on Tuesday - LuvKush Finserve

Markets recouped early losses to end higher on Tuesday after shares in China which plunged to their lowest level since 2009 rebounded following assurance from its central bank and gains in Europe also aided investor sentiment. The Sensex gained 88 points to close at 18,629 and the Nifty advanced 19 points to end at 5,609. However, the broader markets underperformed the benchmark indices and both the BSE Mid-cap and Small-cap indices ended 0.4% lower.

The Oil and Gas index was the top gainer among the sectoral indices on the BSE up 1.5% followed by Capital Goods, FMCG, Auto, Realty and Bankex among others. In the oil space, Reliance Ind gained 1.3% while ONGC ended up 3.8% after its arm ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have signed definitive agreements to acquire Videocon Industries' 10% stake in Mozambique gas field for $2.475 billion (Rs 14,900 crore).

Among other index heavyweights, ITC, L&T, Bharti Airtel, HDFC Bank and Mah & Mah ended up 1-4.3% each. ICICI Bank, HDFC and SBI were among the top Sensex losers on profit taking in late trades. Software exporters TCS, Wipro and Infosys ended down 0.1-1.9% each after the rupee appreciated marginally against the US dollar.

Source : Equity Bulls

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