Stock market updates: Bulls were back in action on D-Street after a five-day hiatus as a decline of over 4 per cent in the past five sessions addressed investors’ concern on the valuation front. That said, rise in Brent crude (now over $66 per barrel), bond yields, and concerns over commodity-induced inflation capped gains.
On the downside, Kotak Mahindra Bank (down 3.7 per cent), Maruti Suzuki (1.6 per cent), HDFC Bank (1.5 per cent), and Bajaj Auto (1.2 per cent) ended the day as top laggards.
On the sectoral front, only financial and select pharma stocks traded weak at the bourses today with the Nifty Private Bank and Financial Services indices dropping half a per cent at close. On the upside, the Nifty Metal index jumped 3.8 per cent while the Nifty Realty index closed 2.6 per cent at close.
Asian shares rebounded from two-week lows on Tuesday as rising commodity prices boosted market expectations of an improved growth outlook, a day after rising US Treasury yields and inflation prospects hit US tech shares.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent to 726.6, the Australian S&P/ASX 200 index rose nearly 0.9 per cent, while Singapore’s Straits Times index put on 0.6 per cent and Taiwan was up 0.2 per cent. That apart Hong Kong advanced 1 per cent but the tech-laden South Korea’s Kospi lost 0.3 per cent.
In Europe, however, Germany’s DAX slipped 1.3 per cent while Spain’s CAC40 index was down 0.08 per cent. London’s FTSE100, on the other hand, was up 0.05 per cent.
(With inputs from Reuters) Ecommerce Service in fiverr once check