Millennium Post

Sensex up 115 points, Nifty 47 on Re rebound & global gains

The benchmark BSE S&P Sensex gained 115 points on Tuesday to close at 19,439.48 amid a smart recovery in the rupee and on the back of firm global cues. The 50-share CNX Nifty on the NSE gained 47.45 points to end at 5,859.00. The SX40 index on the MCX-SX climbed 62.75 points (0.54 per cent) to 11,598.19.

The stock markets mirrored the national currency’s movement. There was across-the-board buying as all 13 sectoral indices closed between 0.04 per cent and 1.93 per cent higher, with consumer durables, power, realty, capital goods, pharma and banking stocks taking the lead.
According to analysts, the market seemed to be consolidating above the 19,000 level ahead of first-quarter results starting later this week. Software services giant Infosys is scheduled to report its Q1 results on Friday.

‘In the coming days, we could see stock-specific movements due to quarterly results,’ said Inventure Growth & Securities CMD Nagji K Rita. ‘Overall, the markets could move sideways with an upward bias. The markets may pick up volatility as it approaches the end of this week when IIP data would be announced.’

Gains in HDFC Bank, Sun Pharma, L&T, Infosys, RIL, HDFC and BHEL supported the Sensex.  The 30-share barometer opened higher, in line with higher Asian cues on the back of a strong Wall Street closing on Monday, and remained in positive terrain to settle at 19,439.48, adding 114.71 points (0.59 per cent). On Monday the Sensex dropped 0.88 per cent.
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