Sensex gains 174 points; metal stocks zoom

A benchmark index of Indian equities markets Tuesday closed 173.74 points or 0.70 percent up, as metal, oil and gas and capital goods stocks rose.

The market, which was trading cautiously ahead of the Reserve Bank of India's (RBI) bi-monthly monetary policy review, started falling soon after the apex bank left key interest rates unchanged. This dampened market expectations of a rate cut under the new central government to spur economic growth.

The central bank, however, cut the liquidity provided under the export credit refinance facility from 50 percent of eligible export credit outstanding to 32 percent. This, in effect, reduces the amount of money available to exporters to get credit.

Sector-wise healthy buying was observed in consumer durables, realty and automobile sectors.

However, fast moving consumer goods (FMCG) and healthcare stocks came under selling pressure.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 24,729.22 points, ended the day's trade at 24,858.59 points (provisional) session, up 173.74 points or 0.70 percent from the previous day's close at 24,684.85 points.

The Sensex touched a high of 24,892.06 points and a low of 24,626.97 points in trade.

The S&P BSE metal index gained 633.58 points, oil and gas index was up 196.11 points, capital goods index increased by 193.18 points, consumer durables index surged 112.68 points, realty index was up 60.43 points and automobile index was higher by 43.63 points.

However, FMCG dropped 50.83 points and healthcare index was lower by 50.82 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed in positive territory. The Nifty closed trade 53.35 points or 0.72 percent up at 7,415.85 points.