IT, Auto top drags, Media, Realty up; Sensex, Nifty divide gains, turn red


As the day's lows were overcome, Tuesday at midday saw gains for Indian benchmark indices.

Nifty had hit a low of 22,045.85 earlier in the day, while the Sensex had opened at 72,727.87 and dropped as low as 72,510.24.

By 2:00 pm, the Nifty was up 16.90 points, or 0.08%, at 22,139.15, while the Sensex was up 126.36 points, or 0.17%, at 72,834.52.

On February 19, provisional data from the NSE revealed that domestic institutional investors (DIIs) bought ₹452.70 crore worth of equities, while foreign institutional investors (FIIs) net sold shares worth ₹754.59 crore.

Tuesday's opening of European shares was negative as expectations of an early interest rate cut were dampened by a possible increase to wage settlements in the euro zone, and the markets were unimpressed by China's move to lower its mortgage rate.

By 08:14 GMT, the pan-European STOXX 600 had decreased by 0.1%. The index reached its highest point in more than two years during the previous session.

A decrease in a mortgage reference rate did not improve sentiment, as Chinese equities declined on an otherwise quiet day for Asian markets.

Early trading saw a pullback in mainland and Hong Kong gauges in response to China's decision to cut the prime rate on five-year loans by the largest amount ever. Australian stocks fell as Japanese shares rose.

Due to increased tensions in the Middle East and rebounding demand from China, oil prices increased slightly on Tuesday and are now almost at three-week highs.

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