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Sensex Ends 249 Points Higher After Late Rally; Nifty Gains 74 Points
(RTTNews) - Indian shares recovered from an early slide to end modestly higher on Tuesday, with gains in rupee and falling oil prices offering some support.
Global cues were mixed as weak Chinese data offset hopes the Federal Reserve would soon slow its interest-rate hikes.
Investors shrugged off data that showed a decline in merchandise exports in some sectors led to a contraction in India's overall outbound shipments by 16.65 percent in October.
The benchmark S&P/BSE Sensex ended the session up 248.84 points, or 0.40 percent, at 61,872.99 while the broader NSE Nifty index rose 74.25 points, or 0.41 percent, to close at 18,403.40.
Hero MotoCorp, Bharti Airtel, ICICI Bank, ONGC and Power Grid Corp all climbed around 2 percent in the Nifty pack, while HDFC Life and Grasim both fell around 1 percent. NDTV shares soared 5 percent after market regulator SEBI paved the way for billionaire Gautam Adani to take control of the media firm.
Greaves Cotton advanced 2.7 percent after the diversified engineering firm posted its highest quarterly revenue in Q2 FY23.
Debutant Fusion MicroFinance ended down over 12 percent discount to its issue price.
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