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Stock Market Today: The local stock markets were quite volatile on Tuesday and the BSE Sensex was marginally up by 14 points. However, the Nifty reached its highest level of 25,017 points.
The market remained stable due to profit booking amid rising tensions in West Asia and Ukraine.
The 30-share Sensex rose for the sixth consecutive trading session and closed at 81,711.76 points with a gain of 13.65 points or 0.02 percent. During trading, it went up to 81,919.11 points and came down to 81,600.51 points.
The National Stock Exchange's Nifty also closed at 25,017.75 points with a nominal gain of 7.15 points or 0.03 percent. This is the ninth consecutive session when the Nifty has been rising.
Among Sensex companies, Bajaj Finserv, Maruti, Larsen & Toubro, Bajaj Finance, Infosys, Axis Bank, and ICICI Bank were the major gainers.
On the other hand, stocks that remained in loss include Hindustan Unilever, JSW Steel, Titan, NTPC, and Tata Motors.
In other Asian markets, Japan's Nikkei and Hong Kong's Hang Seng were in profit while South Korea's Kospi and China's Shanghai Composite were in loss.
There was a bullish trend in the major European markets during afternoon trade. Most US markets were in losses on Monday.
VK Vijayakumar, Chief Investment Strategist, at Geojit Financial Services, said, "There are both challenges and positive trends in the market. The challenges are due to the increasing tension in West Asia and Ukraine. The price of Brent crude has risen above $81. On the other hand, the positive trend is due to the expectation of the US central bank Federal Reserve cutting the policy rate. This will also have a positive impact on other central banks including the Reserve Bank of India.
According to stock market data, foreign institutional investors bought shares worth Rs 483.36 crore on Monday.
Global oil benchmark Brent crude fell 0.84 percent to $80.75 per barrel.
The BSE Sensex had gained 611.90 points on Monday, while the NSE Nifty had gained 187.45 points.
