Sensex slips from day’s high, ends 167 points up, Nifty below 8900

Indian equity indices ended higher on Tuesday to break the three-day losing streak but could not hold on to day’s high levels amid selling in banking stocks.

The S&P BSE Sensex was up 167.19 points or 0.56% at 30196.17, off around 500 points from day’s high, at the close. The NSE Nifty 50 rose 55.85 points or 0.63% to close at 8879.10.

Bharti Airtel led the rally on Sensex despite posting a loss in the March quarter earnings as the scrip jumped 11% and even touched a fresh 52-week high. ONGC, Ultratech Cement and ITC followed the telecom giant in the rally.

Among sectoral indices, the Nifty Bank fluctuated between gains and losses through the day. The index ended 0.% lower at 17,486, nearly 700 points of the day’s high of 18,175.

Bharti Airtel, Adani Ports, ONGC, Bharti Infratel and UltraTech Cement were among major gainers on the Nifty, while losers were UPL, Vedanta, IndusInd Bank, Reliance Industries and L&T.

The equity indices, which started the day up by over 400 points, witnessed choppy traded during the last hour of the session to erase early gains even though they were in the green territory, led by weakness in European indices.

European markets fell in Tuesday’s trade as investors turned cautious over bleak economic data and fears of the second wave of infections as many countries reopened after lockdown.

Sensex had closed 1,068 points lower at 30,028 and Nifty fell 313 points to 8,823 on Monday.

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