Market Ends Higher On Value Buying, Global Cues

The Indian equities ended higher for the second straight session on Tuesday, tracking firm cues from fellow Asian peers and overnight gains in US markets.

The market witnessed increased in buying by funds and retailers in stocks of FMCG, metal, realty, capital goods and banking sectors as investor sentiment rebounded amid optimism that Friday"s deadly terror attack in Paris, which claimed the lives of more than 100 people, will not have a major global economic impact.

Market Ends Higher On Value Buying, Global Cues
Indices
Sensex28,538.72Sensex Quote-129.50 [0.45%]
Nifty8,788.25Nifty Quote-43.30 [0.49%]

The 30-share BSE SENSEX closed at 25864.47, up by 104.37 points or by 0.41 per cent, and the NSE Nifty ended 30.95 points higher at 7837.55.

In the bullish trade, the BSE Sensex touched an intraday high 25948.2 and intraday low of 25732.79, while the NSE Nifty touched high and low of 7860.45 and 7793, respectively.

In line with benchmark indices, the broader market also settled in positive terrain with the BSE MIDCAP closing at 10710.61, up by 33.3 points or by 0.31 per cent, while the BSE SMLCAP ended 52.01 points higher at 11233.45.

On the corporate front, sugar stocks rallied, with dozen of them hitting 52-week high on improved outlook. Shares of Shree Renuka Sugars soared over 19 per cent on Tuesday amid improving outlook as a shortage in sugar supplies globally is expected to push domestic sugar prices higher.

Among others, Dharani Sugars, Balrampur Chini, Shakthi Sugars, Simbhaoli Sugars, Dwarkesh Sugar and Empee Sugar were among the 11 sugar stocks that hit their 52-week highs in the first hour of trade on Tuesday, said an Economic Times report.

On the sectoral front, FMCG and metal stocks emerged as top gainers, adding 2.17 per cent and 1.03 per cent, respectively.

Leading the rally on the D-Street were GAIL (India) Ltd. (Rs. 306.55,+4.04%), ITC Ltd. (Rs. 348.15,+2.91%), Vedanta Ltd. (Rs. 92.05,+2.68%), Hindalco Industries Ltd. (Rs. 80.80,+2.15%), Tata Steel Ltd. (Rs. 234.50,+2.05%), among others.

However, some selling were witnessed in blue chip stocks, such as Infosys Ltd. (Rs. 1061.10,-1.77%), Dr. Reddy's Laboratories Ltd. (Rs. 3440.00,-1.73%), Axis Bank Ltd. (Rs. 475.25,-1.32%), Bajaj Auto Ltd. (Rs. 2355.10,-1.19%), Hero MotoCorp Ltd. (Rs. 2585.45,-1.00%), among others.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 3019, shares advanced were 1493 while 1348 shares declined and 178 were unchanged.

Among the global peers, Asian stocks ended higher, tracking a rally at Wall Street on Monday, as investors looked past Friday"s Paris terror attacks. China"s Shanghai Composite settled in green as brokerages advanced on resumption of IPOs and higher trading volumes.

Hang Seng soared and Japan"s Nikkei 225 also rallied handsomely as a weaker yen boosted the appeal of exporter stocks.

Story first published: Tuesday, November 17, 2015, 16:24 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?