MUMBAI: The benchmark Index of the Bombay Stock Exchange (BSE) moved up for the third session Tuesday, rising by 119.27 points at 17,597.42 as heavyweight scrips, including SBI, L&T, ICICI Bank and ONGC gained coupled with strong global cues.
The Nifty of the National Stock Exchange (NSE) surged by 40.60 points to 5,358.50.
The Sensex remained positive throughout the day. It rallied by 125 points in the opening session. It jumped by 185.95 points at the day’s high of 17,664.10 in mid-afternoon trade.
Finally, it settled at 17,597.42, gaining by 119.27 points from its last close.
A bout of volatility was witnessed in late trade as key benchmark indices trimmed intraday gains as European stocks reversed initial gains.
Barring Health Care and Auto, all other stocks were seen strong. Consumer Durables was the major gainer, rising by more than two per cent.
Capital Goods, Oil and Gas, Metal, Bankex and PSU also increased by more than one per cent.
Even, Realty, Power, FMCG and Technology also supported the market.
Hero MotoCorp slipped after company reported muted growth in sales in March 2012.
Interest rate sensitive realty stocks gained for the third straight session Tuesday.
Metal stocks rose as metal prices gained on London Metal Exchange.
Interest rate sensitive banking stocks rose on expectations that the Reserve Bank of India will start cutting interest rates in the coming months to prop up slowing economy.
The Nifty registered day’s high and low at 5307.10 and 5203.65 points respectively.
The turnover on BSE was of `2230 crore, higher than `2049.98 crore on Monday.
The market breadth was strong. On BSE, 1,764 shares gained and 1,053 shares declined. A total of 118 shares were unchanged.
From the 30-share Sensex pack, 16 stocks fell and rest of them rose.
Asian markets were mostly higher on Tuesday. Key benchmark indices in Hong Kong, Indonesia, Singapore and South Korea rose between 0.99 per cent to 1.31 per cent.
The sectoral indices, including Consumer Durables, rose by 2.14 per cent, Capital Goods by 1.65 per cent, Oil and Gas by 1.56 per cent, Metal by 1.38 per cent, Bankex by 1.22 per cent, PSU by 1.21 per cent, Realty by 0.95 per cent, Power by 0.87 per cent, FMCG by 0.36 per cent and Technology by 0.01 per cent.
The sectoral indices that declined were Health Care by 0.45 per cent, Auto by 0.19 per cent and IT by 0.06 per cent.
Index heavyweight Reliance Industries (RIL) advanced by 1.57 per cent to Rs 752.50, off the day’s high of Rs 762.40.
RIL is seen reporting weak Q4 earnings due to falling refining margins and reduced output from its KG-D6 gas blocks.
IT stocks were mixed. Infosys and Wipro rose by 0.11 and 0.08 per cent respectively.
Tata Consultancy Services (TCS) fell by 0.95 per cent.
Metal shares rose. Sterlite Industries, JSW Steel, Tata Steel, Sail, and Hindalco Industries gained between 0.17 per cent to 3.09 per cent.
Capital goods pivotals extended recent gains.
Country’s largest power equipment maker, Bharat Heavy Electricals
(Bhel) rose by 1.5 per cent.
Engineering and construction major L&T rose by 1.93 per cent as the company has got new orders in March 2012.
In banking segment, ICICI Bank and HDFC bank rose by 1.87 and 0.51 per cent respectively.
State Bank of India rose by 1.95 per cent to Rs 2170.90.
Among other banking stocks, Bank of India, Bank of Baroda and Punjab National Bank increased between 0.05 per cent and 1.18 per cent.
In Realty section, Unitech, HDIL, Godrej Properties Oberoi Realty and Sobha Developers rose between 0.03 per cent to 3.42 per cent.
UltraTech Cement rose by 1.89 per cent after the company’s cement dispatches rose by 6.28 per cent to 4.01 million tonnes in March 2012 over March 2011. Cement production rose 4.53 per cent to 3.92 million tonnes in March 2012 over March 2011.
The country’s largest two-wheeler maker Hero MotoCorp slipped 2.39 per cent after company reported muted growth in sales in March 2012.
The company reported 2.41 per cent increase in its sales at 5,28,290 units in March 2012 over March 2011. It was the top loser.