Firm global trends, copious foreign fund inflows drive markets upward
Buying in index major Reliance Industries, Infosys and ITC also helped markets extend their previous day’s gain.
Representative Image (Photo:Reuters)
MUMBAI: Equity benchmark indices Sensex and Nifty rallied on Tuesday tracking a positive trend in the global markets and unabated foreign fund inflows.
Buying in index major Reliance Industries, Infosys and ITC also helped markets extend their previous day’s gain.
The 30-share BSE Sensex advanced 273.67 points or 0.42 per cent to settle at 65,617.84. During the day, it rallied 526.42 points or 0.80 per cent to 65,870.59.
The NSE Nifty climbed 83.50 points or 0.43 per cent to end at 19,439.40. From the Sensex pack, Sun Pharma, Maruti, Tata Motors, ITC, Nestle, Larsen & Toubro, Infosys, Asian Paints, Titan, Tech Mahindra, Power Grid and Reliance Industries were the major gainers.
Bajaj Finance, Axis Bank, HCL Technologies, State Bank of India, HDFC, HDFC Bank, ICICI Bank and Bajaj Finserv were among the laggard from the 30-share pack.
“The market now awaits the Q1 results, IT sector which kicks off tomorrow, where expectations are muted with a focus on the sustenance of margin and improvement in long-term guidance. The positivity also stems from China’s anticipated stimulus to withstand economic growth and hope on the moderation in US inflation data,” said Vinod Nair, head , research, Geojit Financial Services.
In the broader market, the BSE midcap gauge climbed 0.97 per cent and smallcap index rallied 0.82 per cent.
