Eternal rally helps Nifty clock third straight day of gains

Equity benchmarks closed largely higher on Tuesday, with frontline indices ending in the green for the third consecutive session. The midcap index outperformed, keeping overall market breadth in favour of advances. The NSE advance-decline ratio stood at 3:2.

The Nifty Bank index underperformed and ended in the red, with Federal Bank and IDFC First Bank among the top losers. The Nifty closed above the 25,900 level, with Eternal, Tata Steel, ONGC and Bajaj Auto emerging as the top gainers.

The Sensex rose 208 points to settle at 84,274, while the Nifty added 68 points to close at 25,935. The midcap index gained 295 points to end at 60,736, while the Nifty Bank index declined 43 points to 60,626.

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From the Sensex basket, Tata Steel Ltd, Oil and Natural Gas Corporation Ltd, Bajaj Auto Ltd, Mahindra & Mahindra Ltd, Tech Mahindra Ltd and Eicher Motors Ltd were the major gainers.

HCL Technologies Ltd, Bajaj Finance Ltd, Dr Reddy's Laboratories Ltd, Shriram Finance Ltd, Tata Consumer Products Ltd and Adani Enterprises Ltd were the biggest laggards.

Eternal emerged as the top gainer on the Nifty, rising over 5% during the session. Tata Steel extended gains and rose 3% in today’s trade. BSE shares touched a record high, jumping over 6% after the company reported its Q3 results.

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Lumax hit a 20% upper circuit and touched a 52-week high following its Q3 results. RailTel gained 4% after the company bagged an order worth ₹4,550 crore from West Central Railway. Eicher Motors rose 2% ahead of its Q3 results.

The capital market index was the top-performing sectoral index, with Angel One and CDSL rising 2% each. The rupee ended at the day’s high, strengthening 18 paise from the previous close.

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