Benchmarks snap 4-day losing streak; IT stocks power market rebound
Mumbai, June 2 -- The headline equity benchmarks ended higher on Tuesday, snapping a four-day losing streak, aided by easing crude oil prices and strong gains in IT stocks. Investors continued to track developments surrounding the U.S.-Iran ceasefire situation. The Nifty rebounded sharply from its intraday low of 23,229.15 and briefly crossed the 23,500 mark during the session. Consumer durables and FMCG stocks also advanced, while pharma and healthcare shares remained under pressure. However, concerns over the monsoon outlook, lingering geopolitical tensions in the Middle East and the upcoming RBI monetary policy decision capped gains.
The S&P BSE Sensex jumped 382.50 points or 0.52% to 74,649.84. The Nifty 50 index rose 100.95 points o...
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