Stock markets advance for 4th session in row powered by rally in blue-chip bank stocks

Mumbai: Benchmark stock indices Sensex and Nifty advanced for the fourth consecutive day on Tuesday, helped by a rally in blue-chip bank stocks and buying by domestic institutional investors.

The 30-share BSE Sensex rose by 136.63 points or 0.17 per cent to settle at 81,926.75 after a see-saw trade. After a flat start, the index jumped 519.44 points or 0.63 per cent to hit a high of 82,309.56. However, profit-taking at higher levels dragged the barometer from the day’s high levels.

The 50-share NSE Nifty climbed 30.65 points or 0.12 per cent to 25,108.30 in a volatile trade.

Among Sensex firms, Bharti Airtel, HCL Tech, UltraTech Cement, Power Grid, HDFC Bank, Bajaj Finance, Tata Steel and ICICI Bank were among the major gainers.

However, Axis Bank, Tata Motors, Trent and Infosys were among the laggards.

The BSE midcap gauge climbed 0.45 per cent and smallcap index dipped 0.15 per cent.

Among sectoral indices, telecommunication jumped 2.13 per cent, while realty (1.09 per cent), energy (0.47 per cent), consumer durables (0.28 per cent), financial services (0.24 per cent) and teck (0.23 per cent) were also among the gainers. FMCG, commodities, IT, bankex, metal, BSE Focused IT and services were the laggards.

In the past four trading days, the BSE benchmark jumped 1,659.13 points or 2.06 per cent, and the Nifty climbed 497.2 points or 2.02 per cent.

Global oil benchmark Brent crude dipped 0.15 per cent to USD 65.37 a barrel.

FIIs offloaded equities worth Rs 313.77 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 5,036.39 crore, according to exchange data.

On Monday, the Sensex jumped 582.95 points or 0.72 per cent to settle at 81,790.12, and the Nifty surged 183.40 points or 0.74 per cent to 25,077.65.