Gainers and losers
From the Sensex pack, Kotak Bank, Bharti Airtel, and Axis Bank were the top gainers, rising over 2% each. Sun Pharma, M&M, and HCL Tech also closed higher, while UltraTech Cement, NTPC, Maruti, JSW Steel, and Power Grid closed in the red.
Stocks in news
IIFL Finance closed with a 20% lower circuit for the second consecutive session after the RBI barred the company from financing against shares, and debentures.
Zomato shares closed 2.7% lower after 2.2% equity worth over Rs 3,000 crore changed hands in a block deal in which Ant Financial could be the likely seller.
Global Markets
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%. The Hong Kong benchmark was up 1.7%. Chinese blue chips dipped. Investors are waiting for Fed Chair Jerome Powell’s congressional testimony due on Wednesday and Thursday, and key labour market data on Friday for clues on the timing of interest rate cuts.
Rupee
The Indian rupee closed stronger aided by an uptick in most of its Asian peers. The rupee ended at 82.8225 against the U.S. dollar.
