Closing bell: Sensex witnesses 292.76-pt hike, Nifty above 10700

Sensex today Bharti Airtel Infosys top gainers index jumps over 100 points

Sectoral indices led by FMCG, bank, consumer durables, power, healthcare, capital goods and PSU were in the positive zone, rising by up to 0.88 percent. The Indian currency had closed at a 15-month low of 67.13 against the United States dollar on Monday.

Vinod Nair, Head of Research, Geojit Financial Services said: "Market turned volatile as investors' are concerned on the movement of rupee and surge in oil price which could eventually lead to tight monetary policy".

The BSE market breadth was tilted towards the bears with 1,236 declines and 1,205 advances. Technically prices are above their immediate short-term moving averages like 20 and 50 days which are establishing the overall short-term trend for bulls.

"The upward momentum we are seeing is being extended with some healthy consolidations. the previous range for the consolidation was at 10400 to 10600 where we have seen some healthy consolidation and post the breakout of the same, we are witnessing the upward momentum in Nifty".

It finally settled 8.18 points higher at 35,216. The bears will only have a significant come back in the uptrend is in case we see a closing below 10600.

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On the other hand, Mahindra & Mahindra (0.85%), Infosys (0.71%), Wipro (0.69%), Hindustan Unilever (0.57%), Kotak Mahindra Bank (0.37%), and HDFC Bank (0.31%) were the biggest losers in the Sensex.

Shares of Deccan Gold Mines (up 13.82 per cent), Himadri Speciality Chemical (up 12.70 per cent), Aksh Optifibre (up 9.94 per cent), Arcotech (up 8.47 per cent) and GVK Power & Infrastructure (up 6.05 per cent) were the top gainers in the smallcap index.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 97.15 crore, while the domestic institutional investors purchased stocks worth Rs 923.25 crore.

Benchmark Brent crude retreated from 3-1/2 year highs as investors awaited an announcement by President Donald Trump on whether the USA will reimpose sanctions on Iran.

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