Markets end with modest gains; financial stocks extend rally

Traders said despite a largely positive trend in global equities, domestic investors were cautious amid lack of directional cues

A view of the Bombay Stock Exchange building in Mumbai.

Equity benchmarks Sensex and Nifty closed in the green for the third straight session on Tuesday, propelled by financial stocks amid firm global cues.

After a choppy session, the BSE index ended 44.80 points or 0.12% higher at 38,843.88.

The NSE Nifty inched up 5.80 points or 0.05% to close at 11,472.25.

Bajaj Finance was the top gainer in the Sensex pack, rallying over 4%, followed by SBI, Tech Mahindra, Asian Paints, Bajaj Finserv, IndusInd Bank, ICICI Bank and M&M.

On the other hand, NTPC, Sun Pharma, Nestle India, Tata Steel and L&T were among the laggards.

Traders said despite a largely positive trend in global equities, domestic investors were cautious amid lack of directional cues.

Bourses in Tokyo and Seoul ended with gains, while Shanghai and Hong Kong finished in the red.

Stock exchanges in Europe were trading on a positive note in early deals.

Global oil benchmark Brent crude was trading 0.39% higher $45.82 per barrel.

In the forex market, the rupee ended on a flat note at 74.33 against the U.S. dollar.

Meanwhile, earlier in the day, the Reserve Bank of India said it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of ₹20,000 crore in two tranches.