Indian shares rose for a second session on Tuesday. The Sensex closed 685 points up at 73,068 and the Nifty 50 gained 220 points to 22,776. Twelve of fifteen NSE sector indices ended higher, with Nifty Pharma up 1.6%; IT and realty closed lower. The Midcap 100 added 1.08% and the Smallcap 100 1.6%. Trent rose 12.64% after its quarterly update, Kotak Mahindra Bank 3.8%. December Brent futures fell 2.4% to $97.91 a barrel.
Why it matters for listed companies
Crude below $100 eases the import bill and the input costs of oil marketers, airlines, paints and chemicals, which is why Reliance, IndiGo and Asian Paints were among the gainers. Banks and consumer names moved on their own September-quarter updates. The losers were IT exporters (Tech Mahindra, Infosys) and Coal India. The RBI's rate panel announces its decision on October 7; the repo rate is 5.25%, and lenders' margins and borrowers' costs both turn on it. The rupee still closed weaker, at 96.43 to the dollar.
These figures are measured, not attributed. Prices and rates move for many reasons at once; they show
what happened after this story, not that the story caused it. Nothing here is a recommendation to buy, sell or hold.
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