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Closing Bell: Sensex, Nifty end flat; rupee settles at record low

Closing Bell: Sensex, Nifty end flat; rupee settles at record low

Closing Bell: Sensex, Nifty end flat; rupee settles at record low
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By CNBCTV18.com Jun 28, 2022 4:12 PM IST (Published)

At close, the benchmark 30-share S&P BSE Sensex was up 16 points at 53,177, and the broader 50-share NSE Nifty50 was up 18 points at 15,850. Banking gauge, Nifty Bank slipped 169 points to settle at 33,642, while the midcap index gained 78 points to close at 26,791.

Indian shares ended Tuesday's volatile session on a flat note as investor worries about surging oil prices were partly offset by Beijing relaxing curbs in China's COVID-19 hit manufacturing hubs. But the Indian rupee settled at a record closing low of 78.78 on Tuesday against Monday's close of 78.34, dented sentiment.

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At close, the benchmark 30-share S&P BSE Sensex was up 16 points at 53,177, and the broader 50-share NSE Nifty50 was up 18 points at 15,850. Banking gauge, Nifty Bank slipped 169 points to settle at 33,642, while the midcap index gained 78 points to close at 26,791.
Among stocks, IT stocks supported indices while financials dragged. ONGC, Hindalco Industries, Mahindra and Mahindra, Coal India, and HDFC Life were among the top gainers. Titan Company, Asian Paints, Bajaj Finserv, Divis Labs, and Adani Ports were among the top laggards.
Among sectors, auto, metal, and oil and gas indices gained 1-2 percent.
Shares of Mahindra and Mahindra rose around 4 percent in a weak market a day after the carmaker launched "the bid daddy of SUVs", the All-New Scorpio-N.
Shares of paint companies such as Asian Paints, Berger Paints, Kansai Nerolac, and others traded lower as higher crude oil prices rekindled worries on the margin front.
Shares of Bandhan Bank fell more than 7 percent on Tuesday as concerns of a likely increase in non-performing loans resurfaced, considering the Assam floods.
Shares of upstream oil and gas companies like Oil and Natural Gas Corporation (ONGC), Oil India Corporation (OIC), GAIL, and Reliance rose up to 4 percent while Indian Oil Corporation (IOC), Gujarat Gas, and Indraprastha Gas declined up to 1.3 percent.
Asian equities ended higher after China's decision to shorten the COVID-related quarantine period for overseas visitors improved risk appetite among investors. China's Shanghai Composite and Shenzhen Composite indices ended about 1 percent higher while Hong Kong's Hang Seng index closed 0.9 percent higher. Among other major Asian equity benchmarks, Nikkei and Kospi indices ended 0.8 percent and 0.7 percent higher, respectively.
—With inputs from agencies
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