Sensex closes above 61,000 mark ahead of US inflation data led by gains in RIL, Adani stocks, ITC

• The Sensex closed 0.99% or 600 points higher at 61,032 while the Nifty50 ended 0.89% or 159 points higher at 17,929.
• Meanwhile, all eyes were on the US inflation data to be released later today that would determine the course of interest rate hikes.
• Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days.
• Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers.

India’s benchmark indices Sensex and Nifty50 ended higher on Tuesday led by gains in shares of index heavyweight Reliance Industries, Adani companies and ITC amid positive global cues.

Meanwhile, all eyes were on the US inflation data to be released later today, which would determine the course of interest rate hikes.

Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days.

“Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India’s retail inflation breaching the RBI’s tolerance level was cooled by WPI inflation easing to 4.73% in January. IT stocks were in focus as investors anticipated a slowdown in US inflation, which could result in favourable Fed policy,” said Vinod Nair, head of research at Geojit Financial Services.

The Sensex closed slightly above 61,000 – at 61,032, up 0.99% or 600 points while the Nifty50 ended 0.89%, or 159 points, higher at 17,929.

Adani Enterprises was among the top five gainers on the Nifty50 after the Gautam Adani-led flagship company reported a net profit of ₹820 crore for the December quarter compared with ₹12 crore loss last year.

Top movers on the Nifty50

Top gainers	% change	Top losers	% change
UPL	3.61%	Apollo Hospitals	-2.45%
ITC	3.14%	Eicher Motors	-2.23%
RIL	2.44%	SBI Life Insurance	-1.54%
Adani Enterprises	1.88%	BPCL	-1.16%
Adani Ports & SEZ	1.86%	Grasim Industries	-1.15%
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On Monday both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers – while FIIs bought equities worth ₹ 1,322 crore, DIIs invested ₹522 crore.

US markets edge higher
Ahead of the release of the key inflation data on Tuesday, US markets rose sharply. The Dow Jones Industrial Average ended up 1.11% on Monday, while S&P 500 closed 1.14% higher. The tech-heavy Nasdaq closed 1.48% higher.

Asian markets were largely positive on Tuesday morning, led by the Taiwan TSEC 50 Index that was up 0.71%. Nikkei 225 was up 0.64%, KOSPI gained 0.53%, Shanghai Composite was up 0.28% while the Hang Seng was down 0.24%.

Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers.

Sectoral indices	% change
Nifty PSU Bank	1.04%
Nifty FMCG	1.03%
Nifty Metal	1.02%
Nifty IT	0.99%
Nifty Fin Service	0.90%
Nifty Bank	0.89%
Nifty Pvt Bank	0.77%
Nifty Media	-0.16%
Nifty Pharma	-0.16%
Nifty Auto	-0.36%
Nifty Realty	-1.84%
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