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Share market highlights: Sensex ends 10 points up, Nifty above 11,550; Bajaj Finance, Sun Pharma top gainers

FE Online
sensex, bse

Share market highlights: After opening lower, the headline indices-- Sensex and Nifty-- recovered losses in the afternoon trade on Tuesday to close in the green. The Sensex emded 10.25 points higher at 38,730.82, while the Nifty closed above the 11,550-mark. Bajaj Finance, Sun Pharma shares were among the biggest gainers, jumping more than 5% each. IT behemolth TCS is all set to report Q1 earnings today, kicking of the results season this quarter. Yesterday, the Sensex and Nifty registered their biggest fall in over 4 years just a session after the presentation of Union Budget 2019, experts say that increased taxes for HNIs, FPIs and FIIs spooked investors, even as valuations remained high. Notably, the 30-share Sensex plunged by more than 900 points to hit the day’s low at 38,605.48, but recovered mildly to settle 793 points down to 38,720.57

The stock market is likely to remain volatile in the coming days. Asian stocks struggled to rebound on Tuesday as investors came to terms with sharply reduced expectations the Federal Reserve will deliver a large interest rate cut at the end of July. Those views were bolstered after solid gains in US jobs for June and pushed down Wall Street for the second straight day. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 percent in early trade, after falling 0.6 percent the previous day. Japan’s Nikkei rose 0.5 percent thanks in part to the yen’s retreat against the dollar, Reuters reported. Back home, shares of IT behemoth TCS will assume focus ahead of Q1 results scheduled to be reported today.