Stock markets close higher in range bound trade on buying in Reliance & HDFC Bank

Mumbai: Benchmark stock indices Sensex and Nifty closed higher in a range-bound trade on Tuesday, helped by gains in index heavyweight Reliance Industries and HDFC Bank.

The 30-share BSE Sensex rose by 90.83 points or 0.11 per cent to settle at 83,697.29 with 13 of its constituents closing higher and 17 in the red.

The 50-share NSE Nifty gained 24.75 points or 0.10 per cent to close at 25,541.80.

Among Sensex firms, Bharat Electronics was the lead gainer, rising by 2.51 per cent after the company announced securing orders worth Rs 528 crore. Reliance Industries advanced 1.84 per cent as analysts expressed optimism over the launch of a solar manufacturing facility. Asian Paints, UltraTech Cement, Kotak Mahindra Bank and HDFC Bank were also among the major gainers.

Axis Bank, Trent, Eternal and Tech Mahindra were among the laggards.

The BSE smallcap gauge dipped 0.18 per cent and midcap index dipped 0.07 per cent.

Among BSE sectoral indices, telecom rose by 0.52 per cent, energy by 0.46 per cent, consumer durables by 0.43 per cent and metal by 0.30 per cent. FMCG declined 0.68 per cent, power (0.41 per cent), utilities (0.32 per cent), IT (0.24 per cent) and BSE Focused IT (0.25 per cent). As many as 2,025 stocks advanced while 1,985 declined and 154 remained unchanged on the BSE.

On Monday, the Sensex dropped 452.44 points or 0.54 per cent to settle at 83,606.46. The Nifty declined 120.75 points or 0.47 per cent to 25,517.05.