AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,974 Increased By 90.3 (0.91%)
BR30 31,011 Increased By 410.8 (1.34%)
KSE100 94,134 Increased By 778.3 (0.83%)
KSE30 29,174 Increased By 243.1 (0.84%)

BENGALURU: Indian shares were largely unchanged on Tuesday as a rise in financials offset a drop in energy and consumer stocks, while a global rally fuelled by hopes of an imminent U.S. rate cut came to a standstill on escalating tensions in the Middle East.

The NSE Nifty 50 index added 0.03% to 25,017.75. The S&P BSE Sensex rose 0.02% to 81,711.65.

Both the benchmarks traded in a narrow range between 0.2% losses and 0.3% gains. They are less than 0.5% shy off all-time highs hit on Aug. 1.

The Nifty 50, which has added about 3.6% in nine sessions, its longest daily winning run in 16 months, came within five points of a record high.

“Liquidity remains strong as domestic inflows have far exceeded foreign outflows, providing a cushion to markets,” said Amnish Aggarwal, director of institutional research at Prabhudas Lilladher.

The liquidity surplus has not only lent resilience to domestic markets, but also overpowered the selling pressure despite high valuations, analysts said.

Domestic institutional investors have been buyers for 16 straight sessions, purchasing Indian stocks worth 486.14 billion rupees ($5.8 billion).

IT prods Indian shares towards record highs after Powell’s dovish tilt

Asian stocks slipped, while rising tensions in the Middle East and supply concerns checked risk sentiment.

Brent crude prices held their ground after jumping 7% in the past three sessions due to Mideast escalations.

Higher oil prices hurt net importers like India, where crude contributes a significant share of the country’s import bill and could raise inflation.

Meanwhile, consumer stocks shed about 1%, dragged by Hindustan Unilever, which lost 2% after a $115 million income tax demand.

The energy index shed 0.61% on elevated crude prices and was among the top sectoral losers.

In contrast, financials gained 0.82%, with analysts terming the sector as the only pocket with some degree of valuation comfort.

Zee Entertainment Enterprises surged 11.6%, sending media index 4.1% higher after it settled merger disputes with Sony and BEPL.

Comments

200 characters