Mumbai27 January. There was a lot of ups and downs in the Indian stock market on Tuesday, the day the negotiations for the historic Free Trade Agreement (FTA) between India and the European Union were announced. However, the momentum finally returned and both the benchmark indices closed in the green. BSE Sensex gained 320 points while NSE Nifty gained 127 points and settled at 25,175.

Auto sector worried about India-EU FTA

The market remained in the lead due to good buying in bank and metal stocks amid strong trend in global markets and positive trend due to the announcement of FTA between India and EU. But on the other hand, auto stocks like Mahindra & Mahindra, Hyundai Motor India and Maruti Suzuki India Limited saw a big fall amid concerns about increased competition after FTA.

Big fall in auto stocks

In fact, according to the trade agreement, the tariff on EU cars will be reduced from 110 percent to 10 percent in a step by step process. But a quota of 2,50,000 vehicles has also been fixed every year. With this cut, the prices of premium cars will become affordable, which will increase competition and this is the reason why auto stocks have seen a big fall.

Sensex 0.39 percentage increase 81,857.48 off on

The 30-share BSE Sensex of Bombay Stock Exchange (BSE) closed at 81,857.48, up 319.78 points or 0.39 percent. At one time during trading, it reached a high of 82,084.92 points with a gain of 547.22 points, while with a weakness of 448.89 points it reached a low of 81,088.59 points. Among Sensex companies, shares of 17 remained strong while shares of 13 closed in the red.

nifty 126.75 by points advantage 25,175.40 off on

On the other hand, NSE Nifty, a sensitive index based on 50 shares of the National Stock Exchange (NSE), closed at 25,175.40 with a gain of 126.75 points or 0.51 percent. The index, while remaining within the range of 314.10 points, reached a high of 25,246.65 points and fell to a low of 24,932.55 points. Among Nifty companies, shares of 31 remained in the green and 19 were weak.

Adani Ports stocks rose the most by 4.47 percent

Among the companies included in the Sensex, Adani Ports’ stock rose the most by 4.47.30 percent. Shares of Axis Bank, Tata Steel, Tech Mahindra, NTPC, State Bank of India, UltraTech Cement and Bharat Electronics were also major gainers.

Mahindra & Mahindra’s shares are highest at 4.19%% fell

On the contrary, the major losing stocks include Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC. Among these, shares of Mahindra & Mahindra fell the most by 4.19 percent.

FII has 4,113.38 Sold shares worth crores of rupees

According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,113.38 crore on Friday while domestic institutional investors (DIIs) bought shares worth Rs 4,102.56 crore. Global oil benchmark Brent crude fell 0.15 percent to US$65.49 per barrel. Stock markets remained closed on Monday on account of Republic Day.