Sensex recorded its one of the best single-day trading gains with a nearly 400-point rise to close at 52,769.73 on Tuesday, thanks to hectic buying mainly in financial stocks as investors cheered steady economic data and favourable global cues.
Financial stocks drive rally in BSE index, NSE benchmark ends at 15,812
Sensex recorded its one of the best single-day trading gains with a nearly 400-point rise to close at 52,769.73 on Tuesday, thanks to hectic buying mainly in financial stocks as investors cheered steady economic data and favourable global cues.
The S&P BSE index closed 397.04 points or 0.76 per cent higher, breaking its three-session losing streak. The broader NSE Nifty surged 119.75 points or 0.76 per cent to settle at 15,812.35.
On the Sensex chart, ICICI Bank was the top gainer, surging 2.83 per cent, followed by HDFC, Axis Bank, Sun Pharma, NTPC and M&M. On the other hand, HCL Tech, Dr Reddy’s, Maruti and Tech Mahindra were among the laggards. In the 50-share benchmark index, 21 shares closed with gains and nine logged losses.
The indices of banking, finance, metals, energy and basic materials ended up to 1.41 per cent higher, while BSE IT, teck and FMCG indices ended in the red. Broader midcap and smallcap indices underperformed the benchmark, settling up to 0.46 per cent higher.
“Following favourable economic outcome and positive Asian markets, domestic bourses traded positive today. Asian shares sparked a rally after better-than-expected Chinese economic data and a bounce-back in Chinese tech stocks,” said Vinod Nair, Head of Research at Geojit Financial Services.
Though June CPI inflation continued to remain above the RBI’s tolerance level, it eased to 6.26 per cent from 6.30 per cent in the previous month, giving some relief to the market, he said.
The Index of Industrial Production (IIP) for May grew 29.3 per cent on-year essentially due to a lower base, Nair noted.
Bourses in Shanghai, Seoul, Hong Kong and Tokyo ended with gains. Stock exchanges in Europe were trading mixed in mid-session deals. International oil benchmark Brent crude advanced 0.56 per cent to $75.58 per barrel.
On the forex market front, the rupee ended 9 paise higher at 74.49 against the US dollar on Tuesday.