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Money News

Sensex, Nifty gain as oil tumbles amid caution over Middle East tensions

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 26, 2016. REUTERS/Shailesh Andrade/Files

(Reuters) - Indian shares closed higher on Tuesday as crude prices slipped from their peaks, while investors remained cautious of any fresh escalation in U.S.-Iran standoff.

The Nifty 50 .NSEI ended 0.50% higher at 12,052.95, while the benchmark S&P BSE Sensex .BSESN closed up 0.47% at 40,869.47. Both the indexes had gained as much as 1.1% earlier in the session.

Vedanta Ltd VDAN.NS led gains on the Nifty, closing 3.62% higher, while Bharti Infratel Ltd BHRI.NS ended 1.85% lower, becoming the biggest loser on the index.

“We do not have much clarity again from U.S.-Iran issues, there is still uncertainty staying as a cloud,” said Anand James, chief market strategist at Geojit Financial Services.

HDFC Bank Ltd HDBK.NS closed up 1.58% higher. The lender had reported a 25% rise to 10.68 trillion rupees ($13.92 billion)in deposits for the quarter on Monday.

The Nifty Bank index .NSEBANK closed 0.52% higher.

Reporting by Philip George in Bengaluru; Editing by Rashmi Aich

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