Markets end marginally higher; Sensex extends gain for 2nd session on foreign fund inflows
Mumbai, Apr 29 (PTI): Equity benchmark indices Sensex and Nifty ticked higher for the second straight session in a volatile trade on Tuesday as investors turned cautious amid concern over geopolitical tensions.
However, intense buying in blue-chips Reliance Industries, Infosys and Tata Consultancy Services and unabated foreign capital inflows supported the domestic market.
The 30-share BSE benchmark gauge climbed 70.01 points or 0.09 per cent to settle at 80,288.38. During the day, it jumped 442.94 points or 0.55 per cent to 80,661.31.
The NSE Nifty ended marginally up by 7.45 points or 0.03 per cent to 24,335.95.
"After showing a sustainable upside bounce on Monday, Nifty shifted into a consolidation with a small high-low range on Tuesday and closed the day higher by 7 points.
"After opening on a positive note, the market was not able to continue with the morning gains and slipped into minor weakness from the highs in the early part of the session. It later shifted into a range-bound action for the better part of the session," Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said.
From the Sensex firms, Reliance Industries, Tech Mahindra, Eternal, HCL Tech, Infosys, IndusInd Bank, Tata Consultancy Services and Bajaj Finserv were the biggest gainers.
In contrast, UltraTech Cement, Sun Pharma, Power Grid, NTPC, Kotak Mahindra Bank and Mahindra & Mahindra were among the laggards.
The BSE midcap gauge climbed 0.23 per cent and smallcap index went up marginally by 0.09 per cent.
Among sectoral indices, BSE Focused IT rallied 1.23 per cent, IT (1.13 per cent), capital goods (0.94 per cent), teck (0.76 per cent), industrials (0.70 per cent) and consumer durables (0.60 per cent).
Metal, utilities, commodities, telecommunication, services, bankex and financial services were the laggards.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,474.10 crore on Monday, according to exchange data.
"The market exhibited largely range-bound oscillation, as caution prevailed amid geopolitical concerns over border tensions. The sustained inflows from FIIs provided support to market sentiment and restricted further pessimism. Meanwhile, mixed Q4 results have raised the risk of downward revisions to FY26 projections," Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea's Kospi index and Hong Kong's Hang Seng settled in the positive territory, while Shanghai SSE Composite ended marginally lower.
European markets were trading mostly in the green. US markets ended mostly higher on Monday.
"Markets traded lacklustre and ended nearly unchanged in the absence of any significant trigger. After an initial uptick, the Nifty moved in a narrow range and closed flat," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
Meanwhile, Pakistani troops violated the ceasefire along the LoC in Jammu and Kashmir for a fifth consecutive night, expanding the arc of violations to the Akhnoor sector of Jammu district, an official said on Tuesday.
This was the fifth consecutive night that Pakistan resorted to unprovoked firing along the Line of Control (LoC) amid heightened tensions between New Delhi and Islamabad following last week's terror attack in Pahalgam.
Nearly 50 public parks and gardens located in vulnerable areas of Kashmir Valley have been shut as a precautionary measure in the wake of the Pahalgam terror attack.
India's industrial production growth remained almost flat at 3 per cent in March sequentially, though on a year-on-year basis, it slipped from 5.5 per cent, mainly due to poor performance of the manufacturing, mining, and power sectors.
Global oil benchmark Brent crude declined 1.59 per cent to USD 64.81 a barrel.
The BSE benchmark index Sensex jumped 1,005.84 points or 1.27 per cent to settle at 80,218.37 on Monday. The Nifty rallied 289.15 points or 1.20 per cent to 24,328.50.
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Eight women labourers killed as truck hits tempo on Nagpur-Mumbai expressway
Jalna/Mumbai (PTI): Eight women labourers were killed, and three others were injured after a speeding truck rammed into a tempo on the Nagpur-Mumbai Expressway in Jalna district of Maharashtra on Wednesday evening, police said.
The incident occurred when a group of women was returning home after completing cleaning work on the expressway.
"A total of 11 persons, including the driver, were sitting in the tempo. As the vehicle was about to start, a speeding truck headed towards Mumbai rammed into it from behind at Kadvanchi village," a police official said, adding that seven women died on the spot and another succumbed in the Jalna government hospital.
The tempo was badly mangled, and the bodies were reportedly strewn across the road.
The deceased have been identified as Alkabai Admane (45), Laxmibai Madan (35), Meena Admane (45), Kanchan Admane (50), Tarabai Choudhari (60), Kadubai Madan (55), and Suman Admane (70), all residents of Jalna tehsil.
The identity of the eighth deceased is yet to be confirmed.
Three people are undergoing treatment at the hospital.
Police have arrested the truck driver and registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS). Further investigation is underway.
Expressing grief, Maharashtra Chief Minister Devendra Fadnavis said the death of eight people is extremely unfortunate, and announced a financial assistance of Rs 5 lakh each to the next of kin of the deceased.
Fadnavis paid heartfelt tributes to the deceased and expressed solidarity with their families.
He said in a statement the injured have been immediately admitted to hospitals and the local administration is coordinating relief efforts.
The district collector and the superintendent of police are present at the spot, overseeing the situation, the chief minister added.
Environment Minister and Jalna District Guardian Minister Pankaja Munde has expressed deep sorrow over the incident.
In a condolence message, Munde extended her sympathies to the families of the deceased.
