Indian equity benchmark indices rose in a second leg post noon to beat most other Asian indices on Aug 18. The NSE Nifty 50 index ended with gains of nearly 138.3 points at 11,385, up 1.23%.
Volumes on the NSE were slightly below recent average with Banks, Cement, Materials and Realty stocks doing well while Pharma stock ended a little soft.
Asian shares closed mixed as the lift from Wall Street's tech-fueled rally was checked by investors' fresh concerns about Sino-U.S. tensions. The Trump administration announced on Monday it would further tighten restrictions on China's Huawei Technologies Co, aimed at cracking down on its access to commercially available chips, a move set to disrupt global supply chains.
On the other hand, markets were buoyed by developments in Washington, as Speaker Nancy Pelosi called the House back into session, cutting short the lawmakers' summer recess for a vote expected Saturday on legislation to prohibit changes in the U.S. Postal Service amid growing concerns that the Trump administration is trying to undermine the agency ahead of the November election.
European shares pared early losses on Tuesday as travel stocks rebounded, but rising U.S.-China tensions and underwhelming earnings report from mining group BHP weighed on sentiment.
Nifty has closed at a recent high and hence the mood has turned up for the near term. As seen recently, action in individual stocks is far higher than that reflected by the index. However as the Nifty has broken the recent high, some action can now return to largecaps too.