Sensex at two-and-half year high, consumer durables rally

A benchmark index of Indian equities markets Tuesday closed to its highest level in the last two-and-half years on global cues and healthy buying in consumer durables, FMCG and banking shares.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,249.98 points, closed at 20,302.13 points, up 143.01 points or 0.71 percent from the previous close of 20,159.12 points.

The Sensex touched a high of 20,351.06 points and a low of 20,249.98 points in the day's trade.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended 0.76 percent or 46.00 points up at 6,077.80 points.

Monday's RBI move to curb gold imports to cut current account deficit (CAD) also helped boost sentiments. Brokers said shifting of funds from bullion and forex markets to stocks supported the market.

"Markets were positive due to global positive cues, especially from the US and RBI's measures in controlling the rupee downfall," Dipen Shah, head - private client group research, Kotak Securities told IANS.

The S&P BSE consumer durables index gained 243.72 points followed by bank index, up 163.47 points, FMCG index, up 113.60 points, metal index, up 58.92 points, and PSU index, up 52.55 points.

The major Sensex gainers were: Hindustan Unilever, up 3.19 percent at Rs.718.90; BHEL, up 2.23 percent at Rs.165.10; Mahindra and Mahindra, up 2.11 percent at Rs.920.60; State Bank of India (SBI), up 2.03 percent at Rs.1,861.10; and Sterlite Inds, up 1.87 percent at Rs.84.65.

The main Sensex losers were: Wipro, down 2.23 percent at Rs.384.20; Bharti Airtel, down 1.79 percent at Rs.329.50; Coal India, down 0.58 percent at Rs.298; Cipla, down 0.56 percent at Rs.408.85; and Jindal Steel, down 0.47 percent at Rs.210.35.

Among the Asian markets, Japan's Nikkei closed Tuesday's trade up 0.82 percent; Hong Kong's Hang Seng was 2.33 percent higher and China's Shanghai Composite Index was up 1.95 percent.

In Europe, London's FTSE 100 was trading 0.20 percent up; Germany's DAX Index gained 0.19 percent, while the French CAC 40 Index was higher by 0.17 percent.