Hopes for healthy macro numbers, global cues lift equity markets

Investors’ hopes for healthy macro-economic numbers, along with positive global cues on the back of easing geo-political tensions, lifted the key Indian equity indices — the BSE Sensex and the NSE Nifty50 — on Tuesday.

According to market observers, both the key indices extended gains as healthy buying was witnessed for state-owned banks’ stocks.

Consequently, the wider 51-scrip Nifty of the National Stock Exchange (NSE) gained 87 points or 0.87 per cent to close at 10,093.05 points.

Similarly, the Sensex of the BSE made healthy gains. It closed at 32,158.66 points, higher by 276.50 points or 0.87 per cent from the previous day’s close at 31,882.16 points.

The Sensex touched a high of 32,172.46 points and a low of 31,950.24 points during the intra-day trade.

“Markets rallied strongly on Tuesday to close with healthy gains on the back of positive global cues. The Sensex in the process closed above the psychologically important 32,000-mark,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Major Asian markets have ended on a positive note. European indices like DAX and CAC 40 traded higher.”

On the currency front, the Indian rupee weakened by 10 paise to 64.04 against the US dollar from its previous close at 63.93-94.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1,230.74 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 1,313.08 crore.

“The BSE Sensex and Nifty extended gains in the noon trade with fresh buying coming in state-owned banks like SBI and Bank of Baroda,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

“Markets rose for the fourth straight session led by gains in metal, banking, FMCG and pharma shares.”

Major Sensex gainers on Tuesday were: Tata Steel, up 3.30 per cent at Rs 683.15; Tata Motors (DVR), up 3.26 per cent at Rs 221.90; Sun Pharma, up 3.17 per cent at Rs 483.50; Tata Motors, up 3.14 per cent to Rs 387.20 and Hindustan Unilever, up 2.26 per cent at Rs 1,246.65.

Major Sensex losers were: Wipro, down 1.00 per cent at Rs 298.25; ONGC, down 0.76 per cent at Rs 162.15; Hero MotoCorp, down 0.72 per cent at Rs 3,917.55; NTPC, down 0.29 per cent at Rs 169.90; and PowerGrid, down 0.12 per cent at Rs 215.25.

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