The S&P BSE Sensex and NSE Nifty 50 indexes staged a strong up move on Tuesday paced by gains in banking, financial services, auto, realty and metal shares. The benchmarks opened higher and built on the rally throughout the day to close near intraday highs. The Sensex rose as much as 520 points and Nifty briefly moved above its important psychological level of 11,400. HDFC Bank, Reliance Industries, ICICI Bank, Kotak Mahindra Bank and Infosys were among the top movers in the Sensex. They collectively contributed nearly 300 points towards the Sensex. (Track Sensex, Nifty Here)
The Sensex ended 1.26 per cent or 478 point higher at 38,528 and Nifty climbed 138 points or 1.23 per cent to close at 11,385.
All the 11 sector gauges, barring the Nifty Pharma index, compiled by the National Stock Exchange ended higher led by the gauges of real estate companies. Nifty Realty index rallied 3.75 per cent on reports that the state governments of Maharashtra and Gujarat are planning to reduce stamp duty.
Banking, financial services, auto, media, private bank and metal indexes also rose between 1.5-2.3 per cent each.
Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 index rose 1.3 per cent and Nifty Smallcap 100 index advanced 1.5 per cent.
Grasim Industries was top Nifty gainer, the stock rose 7.6 per cent to close at Rs 673. Zee Entertainment, Kotak Mahindra Bank, Tata Motors, HDFC Bank, UPL, ICICI Bank and JSW Steel were also among the gainers.
On the flipside, BPCL, Tech Mahindra, GAIL India, Cipla, HCL Technologies, Sun pharma and NTPC were among the notable losers.
The overall market breadth was positive as 1,879 shares closed higher while 909 ended lower on the BSE.
