A benchmark index for Indian equities markets Tuesday closed 260
points higher helped by some positive global cues and despite
release of official data which showed the Indian economy grew
slowest in the past six quarters.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at
16,585.1 points, closed at 16,676.75 points, up 260.42 points or
1.59 percent from its previous close at 16,416.33 points.
The Sensex had rallied 567 points Monday.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also
ended higher, 1.65 percent up at 5,012.95 points.
According to data released by the Central Statistical Organisation
(CSO), the Indian economy grew at a lower rate of 7.7 percent in
the first quarter of this fiscal, against 8.8 percent in the like
period of last fiscal.
Broader markets, too, rose after slipping during the day. The BSE
midcap index closed 1.44 percent up, while the BSE small cap index
ended 1.1 percent higher.
Among the sectoral indices on the BSE, metal, realty and banking
stocks were among major gainers.
At the BSE, the market breadth was positive with 1,841 stocks
advancing, 976 scrips declining and 127 remaining unchanged.
Prominent gainers on the 30-scrip Sensex were DLF, up 6.42 percent
at Rs.196.35; Jindal Steel, up 5.34 percent at Rs.519.80; Sun
Pharma, up 5.16 percent at Rs.490.30; and Tata Steel, up 4.79
percent at Rs.468.55.
Among losers on the Sensex were ONGC, down 4.29 percent at
Rs.263.15; ITC, down 0.97 percent at Rs.200; Tata Power, down 0.35
percent at Rs.1,043.30; and L&T, down 0.31 percent at Rs.1,609.80.
Foreign institutional investors were net buyers having picked up
stocks worth $105.82 million Tuesday, according to data available
with the Securities and Exchange Board of India (SEBI).
Asian markets mostly ended in the green, tracking gains of
European and US markets and after encouraging economic data from
the US boosted investor sentiments.
The benchmark Japanese Nikkei closed 1.16 percent up at 8,953.9
points, while Hong Kong's Hang Seng ended 1.71 percent higher at
Chinese stocks were, however, subdued on fears of a rate hike. The
Chinese Shanghai Composite index closed 0.38 percent down at
European markets were ruling mixed.
The German DAX was ruling 0.57 percent lower at 5,637.73 points,
while the French CAC 40 was trading 0.16 percent down at 3,149.22
Markets in Britain, which were closed Monday, played catch up to
the previous session's rally in other Euro zone markets. The FTSE
100 was trading 2.35 percent up at 5,250.39 points.