Welcome to ET Market Watch – your daily podcast for daily stock market updates. I am Neha V Mahajan, let’s take a look at the top highlights of the day:
Sensex and Nifty erased early gains and closed in the red on Tuesday. The indices were dragged by index heavyweights HDFC Bank, Reliance Industries, and Infosys. Nifty closed at 20,906 while Sensex settled at 69,551.
Gainers and losers:
Among the Sensex stocks, Sun Pharma, IndusInd Bank, Maruti, Titan, and Reliance Industries closed in the red, while UltraTech Cement, JSW Steel, Axis Bank, TCS, and Wipro closed in the green.
Stocks in the news:
Yes Bank closed 5% higher amid reports that the private lender is looking for buyers for its Rs 4,200 crore corporate and retail distressed loan book. Jammu & Kashmir Bank closed 7% higher after the private lender launched a QIP to raise Rs 750 crore.
Global Markets:
Global stocks rose ahead of US inflation figures that could set the tone for trading in a week filled with central bank meetings.
Oil and Rupee:
Oil prices rose as an attack by the Iran-aligned Houthis on a chemical tanker escalated geopolitical tension in the Middle East, though concerns over excess supply and slowing demand cut the gains. Brent crude futures for Feb rose 0.3%, to $76.24 a barrel, while US WTI crude futures for January gained 0.4%, to $71.59. The rupee hovered in a tight range tracking subdued moves in its Asian peers as markets await a key US inflation report. The rupee closed at 83.3875 against the US dollar.
