Bouncing back towards the fag-end of the session in an otherwise choppy trade, the benchmark BSE Sensex on Tuesday closed nearly 5 points higher at 27,990.21 with gains in IT, PSU and banking stocks, tracking a higher opening in the European markets.
However, a mixed trend on Asian bourses amid investors awaiting cues on whether the Federal Reserve would raise US interest rates this year kept investors edgy. Besides, a cautious approach by participants ahead of the August-month expiry in the derivatives segment on Thursday too influenced the domestic trading sentiment. Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services ltd, said, “Market remains range-bound with a positive bias due to a slight recovery in European markets. On the other hand, global market is shifting its focus to the possibility of a rate hike in the US by December 2016, which will cast a shadow on the domestic market.”