Sensex Up 32 Points, Stock Market Extends Winning Streak

Mumbai, Mar 25 (PTI) Benchmark indices Sensex and Nifty ended marginally higher on Tuesday, taking their gaining streak to the seventh session even as markets witnessed profit-booking after the recent sharp gains.

The 30-share BSE benchmark Sensex gained 32.81 points or 0.04 per cent to settle at 78,017.19. During the day, it jumped 757.31 points or 0.97 per cent to 78,741.69.

The NSE Nifty eked out gains of 10.30 points or 0.04 per cent to 23,668.65.

From the Sensex pack, UltraTech Cement, Infosys, Bajaj Finserv, Axis Bank, HDFC Bank, Bharti Airtel, HCL Tech and Tata Consultancy Services were the biggest gainers.

Zomato tanked nearly 6 per cent followed by IndusInd Bank which declined about 5 per cent. Adani Ports, Mahindra & Mahindra, Reliance Industries and Sun Pharma were also among the laggards.

"After a six-day recovery rally, the broader market witnessed some profit-booking, particularly in small and midcap stocks, where premium valuations still exist. On the other hand, the IT sector posted gains, driven by positive global cues stemming from expectations of softer tariffs and a recent correction in valuations.

"In the near-term, investor sentiment is expected to be cautious as they await clarity on trade policy between US-India. Favourable indicators, such as expected rate cuts and rupee movements, continue to support the market sentiment," Vinod Nair, Head of Research, Geojit Investments Limited, said.

Foreign Institutional Investors (FIIs) bought equities worth Rs 3,055.76 crore on Monday, according to exchange data.

In Asian markets, Tokyo settled in the positive territory while Seoul, Shanghai and Hong Kong ended lower.

European markets were trading in positive territory. The US markets ended significantly higher on Monday.

Global oil benchmark Brent crude went up 0.53 per cent to USD 73.39 a barrel.

The BSE benchmark gauge jumped 1,078.87 points or 1.40 per cent to settle at over six-week high of 77,984.38 on Monday. The Nifty surged by 307.95 points or 1.32 per cent to 23,658.35.