By Admin 
Stock Market Today: Despite the volatile trading on Tuesday, the Indian stock market showed strength and major indices closed with gains. Positive signals from global markets, announcement of historic free trade agreement between India and European Union and strong buying in banking and metal stocks supported the market. BSE Sensex closed at 81,857.48 with a gain of 319.78 points or 0.39 percent, while it also reached a high of 82,084.92 during trading.
market strength
Whereas NSE Nifty rose 126.75 points or 0.51 percent and closed at 25,175.40. Among the Sensex stocks, Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India and UltraTech Cement were the biggest gainers. Shares of Axis Bank rose more than four percent on the news of profit increasing to Rs 7,010.65 crore in the December quarter.
On the other hand, shares of Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC declined. According to market experts, investor confidence has increased due to India-EU FTA, but continuous selling by foreign institutional investors and relatively weak earnings of companies in the third quarter kept the rise limited.
Strength in Asian market also
According to the data, FIIs sold shares worth Rs 4,113 crore in a day, while DIIs bought shares worth about Rs 4,102 crore. There was a strong trend in Asian markets too and American markets had already closed with gains, while a slight decline was seen in the prices of Brent crude.
Also read: What will be the next step for the ‘Mother of All Deal’ to become effective?
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