Indian Markets snap 2-day losing streak to end flat - LuvKush Finserve

Markets snapped two-day losing streak and ended flat with a positive bias on Tuesday as gains in auto shares helped offset losses in IT majors. The Sensex ended up 19 points at 19,920 after touching a high of 20,050 and a low of 19,783 and the Nifty ended up 3 points at 5,892 after touching a high of 5,938 and a low of 5,855.

The rupee was marginally down at Rs 62.62 to the dollar compared with previous close of Rs 62.60.

Capital Goods index was the top gainer among the sectoral indices on the BSE up 1.4% amid short recovering at lower levels followed by Auto, Power, Consumer Durables. However, Metal, IT and FMCG were among the top losers.

HDFC and L&T were among the top Sensex gainers on shortcovering after sharp selloff in the previous two sessions. HDFC ended 1.7% while L&T ended 2.1%. Shares of automobiles companies are in demand in otherwise subdue market on renewed buying interest on expectations of higher demand during the upcoming festive season.

In the auto segment gainers include, Bajaj Auto, Tata Motors and M&M. IT majors were among the top losers after the rupee firmed up against the dollar. TCS, Infosys and Wipro ended down 0.1-1.3% each. The BSE Mid-cap index and the BSE Small-cap index ended mixed.

Source : Equity Bulls

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