The equity benchmark Sensex and Nifty remained marginally higher on Tuesday amid high volatility amid the economic impact of the second wave of coronovirus infection in the country. After swinging around 646 points during the day, the BSE Sensex rose 42.07 points, or 0.09 percent, to close at 49,201.39. The broader NSE Nifty rose 45.70 points, or 0.31 percent, to 14,683.50 points.
Asian Paints topped the Sensex pack by 4 per cent, topping SunPharma, HUL, HDFC, Dr Reddy’s, Nestle India and M&M. On the other hand, Powergrid, Axis Bank, IndusInd Bank, Ultratech Cement and ICICI Bank lagged behind.
Binod Modi, Head – Strategy, Reliance Securities, said that domestic equity was quite volatile and gained early lead in the form of a sharp spike in COVID-19 cases across the country. He said that the sharp rise in the cases of COVID-19 and local lockout has hurt the sentiments of investors.
Elsewhere in Asia, nutrition in Shanghai and Tokyo ended in red, while Seoul was in positive territory. Stock exchanges in Europe were trading with gains in mid-session deals.
Meanwhile, global oil benchmark Brent crude was up 2.43 percent at US $ 63.66 a barrel.