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Sensex, Nifty rise in highly volatile trade

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Top gainers in the BSE pack include TechM, Titan, Tata Steel, Bajaj Finance, UltraTech Cements and SBI.

New Delhi: Equity indices rose on Tuesday in highly volatile trade. The benchmark BSE Sensex rose 55 points, or 0.09 per cent, to 61,022 in morning deals; While the broader NSE Nifty rose 42 points or 0.23 per cent to 18,167.

Top gainers in the BSE pack included TechM, Titan, Tata Steel, Bajaj Finance, UltraTech Cements and SBI, with their shares rising 2.53 per cent. On the other hand, Axis Bank, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Hindustan Unilever and PowerGrid fell up to 1.46 per cent in morning deals.

On the NSE platform, except Nifty Pharma and Private Bank, all other sub-indices were outperforming the index with Nifty Realty rising up to 2.75 per cent.

Tire maker Ceat Ltd fell up to 2.92 per cent as the company reported a fall in net profit on higher input costs.

Vinod Nair, head of research, Geojit Financial Services, told the news agency, “Markets thought inflation was transient and margins would adjust with volume growth. But the issue will persist for another quarter and its impact will be visible on current earnings. Used to be.” Reuters.

Some analysts also cautioned that a nearly 30 per cent rise in domestic benchmark indices has heated up equity valuations and warned that the market could see a sharp decline in some areas.

Several top tier automakers including India’s leading carmaker Maruti Suzuki, Larsen & Toubro (L&T) and cigarette maker ITC will report their earnings later this week.

Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 2,459.10 crore on Monday, according to exchange data.

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