Sensex, Nifty End Modestly Higher In Cautious Trade

Indian shares eked out modest gains on Tuesday as traders returned to their desks after a long Christmas holiday weekend.

The benchmark S&P BSE Sensex rose 229.84 points, or 0.32 percent, to 71,336.80 as signs of softening U.S. price pressures bolstered bets for multiple rate cuts from the Federal Reserve in the coming year.

The broader NSE Nifty index moved in a narrow range before settling 91.95 points, or 0.43 percent, higher at 21,441.35.

The upside remained capped as oil prices continued to rise amid tensions in the Middle East, the region that holds most of the world’s oil reserves, and transport bottlenecks in the Red Sea.

Divis Laboratories jumped 4.6 percent to top the gainers list while ONGC, NTPC, Adani Enterprises and Hero MotoCorp climbed 2-3 percent.

On the flip side, TCS, Infosys, Bajaj FinServ and Bajaj Finance fell between 0.7 percent and 1.7 percent.

State-owned defense and aerospace company Bharat Electronics rallied 4.4 percent after an announcement that it has bagged orders worth Rs. 678 crores.

Adani Green Energy soared 5.5 percent after it signed a pact with the Solar Energy Corporation of India (SECI) to supply 1,799 MW of solar power.

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