Markets end higher led by heavyweights
Benchmark share indices ended higher on Tuesday led by index heavyweight Reliance Industries, metal, capital goods and banking shares.
The Bombay Stock Exchange’s 30-share Sensex provisionally closed at 18,405 up 116 points. The National Stock Exchange’s 50-share S&P CNX Nifty provisionally closed at 5,599 up 35 points.
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Updated at 1415 hrs
Markets continue to maintain the steady movement amid volatility. Index heavyweight RIL, Consmuer Durable, banking and Power segments are helping the markets to hold on to their gains. At 14:15, the Sensex was up 135 points at 18,424 and the Nifty gained 42 points at 5,606 levels.
On the global front, Asian markets ended on a mixed note. Japan's Nikkei share average dipped after failing to top the key 9,500 level on Tuesday, while Mazda Motor Corp shed nearly 10% on a report that it will raise $2 billion through a share issue and loans to shore up its finances. European markets opened margially lower with CAC, DAX and FTSE declining between 0.2-0.3%.
Back home, index heavyweight Reliance Industries has zoomed by 2.4%.
BHEL continues to remain the top Sensex gainer, up 4% on reports that the Cabinet Committee on Economic Affairs (CCEA) will impose import duty at the rate of 20% on the power generation equipment for projects above 1,000 megawatts (MW).
Consmuer Durable stock Titan Industries has surged 6%, its lifetime high, on the back of huge volumes.
From the Metal space, Tata Steel and Hindalco have gained between 1-3%.
ONGC has rallied 2.5% on reports that the overseas investors have assured the government they would buy up the proposed 5% stake sale in the company.
Banking stocks like SBI and ICICI Bank have increased between 0.4-2%.
Telecom major Bharti Airttel has zoomed by nearly 2%.
Auto stocks like Hero MotoCorp and M&M have gained between 1-1.5%.
On the losing side, BSE IT index is trading marginally lower. Wipro and Infosys have fallen between 0.3-1%.
The broader markets continue to outperform the benchmark indices. BSE Midcap and Smallcap indices have gained between 0.6 -1.1%.
The overall market breadth remains firm as 1,549 stocks are advancing while 1,284 are declining.