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By Malvika Gurung
Investing.com — Dalal Street ended higher on Tuesday, extending gains to a second consecutive session, after a gap-up opening amid positive global cues. Benchmark indices and gained 0.6%.
An overnight rally on Wall Street, led by a surge in technology stocks, paired with lowering oil prices and another round of peace talks between Russia and Ukraine provided support to domestic investor sentiments
Moreover, Japanese equities ended higher on Tuesday, led by shares propelling across the warehousing, chemical and transport sectors, among others.
Asian markets fared well on Tuesday, led by the Bank of Japan announcing to maintain its ultra-loose monetary policy to control a rise in yields. Also, fell, as the demand expectation lowered from China, given the lockdown restrictions imposed across the country, including its financial hub Shanghai, due to rising Covid-19 cases, stated Vinod Nair from Geojit Financial Services.
In the domestic market, investors jumped to place fresh orders on beaten-down stock prices of sectors like cement and realty, on account of attractive valuation and hope that these companies will pass on the prices of increased input costs over to the customers, suggested an analyst at Motilal Oswal (NS:).
In the near term, domestic investors will focus on the scheduled monthly expiry of March month derivatives contracts in the week ahead, along with auto sales data to be released on Friday. Meanwhile, markets will continue to take global cues, so volatility can be expected in the near term.
Besides, Rahul Sharma at Equity 99 expects headwinds like rising inflation, fluctuations in crude oil prices and the US Fed rate hike affect the market in the short run and advises to maintain buy on dips strategy at major levels.
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