Market close snapshot
Indian equities closed higher on Tuesday after a session led by gains in the Real Estate, Banking and Technology sectors. At the close on the National Stock Exchange, the Nifty 50 added 0.87% to register a new 1-month high. The BSE Sensex 30 advanced 0.96% over the same period.
Leading movers on the Nifty
The strongest performers on the Nifty 50 included Nestle India Ltd (NSE:NEST), which surged 8.36% or 107.50 points to finish at 1,393.90. Hindustan Unilever Ltd. (NSE:HLL) climbed 4.15% or 92.50 points to close at 2,324.00, while Trent Ltd (NSE:TREN) rose 3.83% or 162.70 points to end the session at 4,405.50.
On the downside, SBI Life Insurance Company Ltd (NSE:SBIL) fell 3.45% or 68.30 points to 1,914.20 at the close. Bharat Electronics Ltd (NSE:BAJE) declined 1.32% or 6.05 points to settle at 451.50, and Jio Financial Services Ltd (NSE:JIOF) slipped 0.95% or 2.25 points to 234.90.
Top names on the BSE Sensex 30
On the Bombay Stock Exchange, Nestle India Ltd (BO:NEST) was among the top gainers, rising 8.20% to 1,393.00. Hindustan Unilever Ltd. (BO:HLL) added 3.86% to settle at 2,321.80, and ICICI Bank Ltd (BO:ICBK) gained 2.29% to close at 1,387.00.
The laggards on the BSE included Titan Company Ltd (BO:TITN), down 0.88% to 4,473.40, Reliance Industries Ltd (BO:RELI), which lost 0.57% to 1,354.80, and Power Grid Corporation of India Ltd (BO:PGRD), which was down 0.39% to 318.35 at the close.
Market breadth and milestones
Rising stocks outnumbered decliners on the National Stock Exchange by 1515 to 1015, with 42 issues unchanged. On the Bombay Stock Exchange, 2349 shares rose, 1692 declined and 145 finished unchanged. Shares of Nestle India Ltd reached all-time highs on both exchanges - up 8.36% or 107.50 to 1,393.90 on the NSE and up 8.20% or 105.60 to 1,393.00 on the BSE.
Volatility, commodities and currencies
Volatility moderated as the India VIX, which measures the implied volatility of Nifty 50 options, fell 6.48% to 17.57. In commodities, Gold Futures for June delivery declined 0.55% or 26.71 to $4,802.09 a troy ounce. Crude oil for June delivery fell 1.00% or 0.87 to $86.55 a barrel, while the June Brent oil contract slipped 0.90% or 0.86 to $94.62 a barrel.
On the currency front, USD/INR was up 0.32% to 93.41 and EUR/INR rose 0.16% to 109.95. The US Dollar Index Futures was up 0.19% at 98.09.
Takeaway
Benchmarks closed higher with sector leadership concentrated in Real Estate, Banking and Technology. Nestle India stood out with double-digit strength that pushed the stock to new record levels, while volatility as measured by India VIX receded and key commodities moved lower.