India's benchmark indices closed higher on Tuesday after six consecutive sessions of decline, as disappointment with China's new stimulus measures lifted sentiment. Stocks also got a boost as investors deployed a buy-the-dip strategy following a 5 per cent fall over the previous six sessions. Heavyweights HDFC Bank and Reliance Industries were the biggest contributors to Sensex gains.
At close, the Sensex was up 584.81 points, or 0.72 per cent, at 81,634.81, and the Nifty soared 217.40 points, or 0.88 per cent, to settle at 25,013.20. The Nifty Midcap 100 and the Nifty Smallcap 100 also recorded gains of over 2 per cent.
In the previous six trading sessions, the Sensex and Nifty declined by 5.6 and 5.4 per cent, respectively, amid almost ₹40,000 crore pullout by foreign portfolio investors (FPIs). The selloff was triggered by a 30 per cent jump in China and rising tensions in West Asia.
This story is from the October 09, 2024 edition of Business Standard.
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This story is from the October 09, 2024 edition of Business Standard.
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