Indian Shares Rebound On Value Buying As Oil Prices Ease
(RTTNews) - Indian shares closed higher on Tuesday, staging a rebound after four days of losses as investors assessed mixed signals over the status of U.S.-Iran peace talks and awaited upcoming RBI rate decision.
The rupee was flat against the dollar, U.S. Treasury yields eased and oil prices fell nearly 2 percent as U.S. President Donald Trump confirmed ongoing U.S.-Iran talks and said he had persuaded Israel and Hezbollah to dial back fighting.
Earlier, Iran suspended indirect negotiations with the U.S. in protest of Israel's actions in Lebanon. Contradicting that claim, Trump said talks with Iran were continuing at a rapid pace and that Israel and Hezbollah have agreed to dial back fighting.
With firm global cues offering some support, the benchmark BSE Sensex recovered early losses to end 382.50 points, or 0.52 percent, higher at 74,649.84.
The NSE Nifty index rose by 100.95 points, or 0.43 percent, to 23,483.55 while the BSE mid-cap and small-cap indexes gained 0.3 percent and half a percent, respectively.
The market breadth was positive on the BSE, with 2,295 shares rising while 1,903 shares declined and 179 shares closed unchanged.
Among the prominent gainers, Wipro advanced 1.7 percent to extend gains for a third day running after announcing it would raise its stake in insurtech firm Aggne to 80 percent with a $28.5M buyout.
Peers HCL Technologies, Infosys and TCS soared 4-7 percent on positive commentary from brokerages.
NHPC slumped 6.4 percent as the government launched an offer for sale to sell up to 6 percent stake in the company.
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