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Sensex Rallies For Seventh Day, Reclaims 60,000 Mark

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During the day, the BSE Sensex jumped 421 points to 60,267.

Mumbai:

Equity benchmark Sensex climbed over 310 points to reclaim the 60,000 mark on Tuesday, propelled by robust buying in metal, bank and financial stocks amid a firm trend in global equities and continuous foreign capital inflows.

Rising for the seventh straight session, the 30-share BSE Sensex rose 311.21 points or 0.52 per cent to finish at 60,157.72. During the day, it jumped 421.17 points or 0.70 per cent to 60,267.68.

The broader NSE Nifty gained 98.25 points or 0.56 per cent to settle at 17,722.30.

Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners.

Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.

In Asian markets, Seoul, Japan and Hong Kong ended in the green, while Shanghai settled lower.

European equity markets were trading in positive territory during the afternoon trade. The US markets ended mostly with gains in the overnight session on Monday.

“The domestic equity indices showed resilience and remained in positive territory, primarily led by banking and auto stocks on the expectation of strong quarterly earnings following robust business updates. The US inflation figures, along with the FOMC meeting minutes, are likely to exert a dominant influence on the global market trend,” said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, global oil benchmark Brent crude climbed 0.35 per cent to USD 84.53 per barrel.

Foreign Portfolio Investors (FPIs) bought equities worth Rs 882.52 crore on Monday, according to exchange data.

(Except for the headline, this story has not been edited by String Reveals staff and is published from a syndicated feed.)