Sensex gains 320 points; bank stocks rise

A day after it fell 491 points due to negative global cues and uncertainty over the Delhi election results, a benchmark index of the Indian equities markets was up 320 points or 1.14 percent in Tuesday's pre-afternoon trade session.

Healthy buying was observed in bank, automobile, capital goods, metal and consumer durables stocks, while information technology (IT) and technology, entertainment and media (TECK) sectors came under heavy selling pressure.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,122.48 points, was trading at 28,548.06 points (11.45 a.m.), up 320.67 points or 1.14 percent from the previous day's close at 28,227.39 points.

The Sensex touched a high of 28,633.72 points and a low of 28,044.49 points in the intra-day trade so far.

Sector-wise, the S&P BSE bank index rose 521.90 points, followed by automobile index which was up 354.99 points, capital goods index was higher by 302.81 points, metal index increased 185.36 points and consumer durables index gained 122.42 points.

However, IT index decreased 63.27 points and technology, entertainment and media (TECK) index declined by 26.77 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also made gains in the trade so far. It was up 88.60 points or 1.04 percent at 8,614.95 points.