Mumbai: Stocks on Tuesday moved in a range, but managed to shake off two consecutive days of weakness, with both Sensex and Nifty signing off on a positive note.
The markets looked for direction, but there were no major triggers at hand. Unabated buying by domestic institutional investors and a positive trend overseas gave markets some relief.
Covering short positions by speculators gave equities a push.
After a higher opening, the Sensex settling up 33 points, or 0.11 per cent, at 31,291.85.
The 30-share gauge had lost 536.61 points in the past two sessions, mostly dragged down by over 15 per cent plunge in the Infosys stock after Vishal Sikka’s surprise resignation as CEO last Friday amid foreign fund outflows.
The NSE Nifty reclaimed the 9,800 mark, but gave up part of the gains due to profit-booking before ending at 9,765.55, up 11.20 points, or 0.11 per cent.
India’s second-largest IT exporter, Infosys, which had been in decline for two straight days, is back in the green by rising 0.42 per cent to INR 877.15 on value-buying.