New Delhi:
Equities benchmark Sensex edged lower by over 50 points in early trade on Tueday and ended on a positive note with 379 points higher. The 30-share BSE index was trading lower by 0.14 per cent, or 50.71 points, at 36,013.10 in the opening trade while towards the end of the day it was 36,442 points. The broader NSE Nifty was also quoted up by 123 points to close a tad below the psychological 11,000-level at 10,987.
Tata Motors led the Sensex chart with a rise of 7.72 per cent, followed by Heromoto Corp 5.28 per cent and Axis bank 4.12 per cent. The key BSE index was further lifted by ONGC, Coal India, Tata Steel, NTPC, Maruti and ICICI Bank -- rising as much as 3.96 per cent.
Among the major Sensex laggards, Infosys slipped 1.15 per cent, HUL dropped 0.62 per cent and TCS fell 0.19 per cent. PowerGrid, LT, Yes Bank and HCL Tech were the other losers on the Sensex.
In the Sensex pack, weakness was seen primarily in capital goods, IT and financial counters. Indian equities followed the weak trend prevailing on Asian bourses as investors awaited fresh developments in the China-US trade talks.China lowering its growth forecasts for this year also played in the minds of cautious investors.
Globally, investors tracked losses on Wall Street, where the global rally hit a bump as optimism that the world's top two economies are heading for a tariffs deal was replaced by a need for clarity on any agreement.In Asia, Shanghai was down 0.2 per cent while Hong Kong slipped 0.6 per cent and Tokyo was 0.6 per cent lower.
Last week, the Sensex on Friday closed with 196 points gain to end at 36,064 and also posted its second straight weekly gains amid signs of easing tensions between India and Pakistan.
However, volatility erupted last week on domestic bourses after the Indian Air Force targeted Pakistan-based terror camps, leading to days-long geo-political tensions in the region. But investors now can heave a sigh of relief amid subsiding of skirmishes on the border between the two nations.
In the absence of any immediate key triggers, the domestic equity market would be guided by macro-economic data, crude oil prices, foreign fund inflows and currency movement in this holiday-shortened week, according to analysts.
Meanwhile, China has slashed its official GDP target to 6 to 6.5 per cent this year as the world's second largest economy grapples with the ongoing trade war with the US and a continued economic slowdown.
(With inputs from PTI)
