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Sensex, Nifty End Choppy Session Higher; IT Stocks Bleed
(RTTNews) - Indian shares ended a choppy session modestly higher on Tuesday, tracking gains in European markets and the U.S. equity futures.
While a slight pullback in the dollar index offered some support, rising oil prices served to keep underlying sentiment cautious.
Oil prices were up nearly 2 percent in European trade after Saudi Arabia warned that OPEC could cut output to correct the recent oil price fall.
The benchmark S&P/BSE Sensex gyrated 1,027 points during the day before settling at 59,031.30, up 257.43 points, or 0.44 percent, from its previous close.
The broader NSE Nifty index closed up 86.80 points, or half a percent, at 17,577.50, after having hit a high of 17,625.55 and a low of 17,345.20 earlier.
Among the top gainers, Tata Steel, Titan Company, Bajaj FinServ, Eicher Motors and Mahindra & Mahindra climbed 3-4 percent.
IT stocks were hit hard due to concerns over rising Treasury yields and pressure on operating margins. HCL Technologies, TCS and Infosys fell 1-2 percent.
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