Sector Highlights:
-Nifty Realty surged 1.9%, led by Phoenix Mills and Mahindra Lifespace Developers.
-Nifty IT index was up 0.6%, led by Wipro which climbed over 3% after extending its contract with Hanesbrands and securing a new deal with GBST.
-Nifty Bank index closed 0.9% higher, driven by IDFC First Bank, ICICI Bank, and Axis Bank.
-Nifty Smallcap rose 1.1%, and Nifty Midcap100 gained 0.5%.
Stocks in news:
Hindustan Aeronautics jumped over 6% after the Defence Ministry requested a proposal for 156 light combat helicopters.
Shares of Som Distilleries fell 6.4% following a police investigation into child labor allegations at one of its distilleries.
Expert view:
Vinod Nair from Geojit Financial Services said that the Indian market is responding positively to the upcoming budget and global trends, with decreased market volatility contributing to a short-term upward trend.
Global markets:
World shares went up as an uneasy calm held in Europe and traders awaited remarks from U.S. Fed officials.
Earlier in the day, Asian shares rose, following Monday’s gains on Wall Street, which left MSCI’s world share index up 0.14%.
Crude Oil & Rupee:
Oil prices remained stable. Brent crude futures dipped 0.2% to $84.09 per barrel, while US WTI fell 0.2% to $80.18 per barrel. The rupee held strong and closed at 83.41 against the U.S. dollar.
