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MARKET WRAP: Sensex up 292 pts, Nifty ends at 11,428; auto, metals rally
All that happened in markets today.
Buying in select blue-chip counters such as HDFC Bank, HUL, ITC and Maruti lifted benchmark indices on Tuesday. Positive global cues, too, boosted investor sentiment.
The S&P BSE Sensex rallied 292 points or 0.76 per cent to end at 38,506.09 levels while the NSE's Nifty50 index closed above the crucial 11,400-mark at 11,428.30, up 87 points or 0.77 per cent.
Out of 30 components of the Sensex, 24 ended in the green and 6 in the red. Vedanta (up 4 per cent) emerged as the biggest gainer on the index and Bharti Airtel was the top drag.
Market breadth was in favour of sellers as out of 2,657 companies traded on the BSE, 1,363 declined and 1,104 advanced while 190 scrips remained unchanged.
In the broader market, the S&P BSE MidCap index closed at 13,940.15 levels, up 99 points or 0.72 per cent while the S&P BSE SmallCap index ended at 12,773.61, down 14 points or 0.11 per cent.
Among the sectoral indices on the NSE, barring Nifty IT index, all the other indices ended in the green. Auto stocks advanced the most, followed by metal and private bank counters. The Nifty Auto index ended over 2 per cent higher at 7,688.25 levels.
Volatility index India VIX declined 3.67 per cent to 16.79 levels.
Asian stocks and the pound gained on Tuesday as investors held out hope that Britain still had a chance of avoiding a messy exit from the European Union at key negotiations this week. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent. Australian shares were up 0.17 per cent, while Japan's Nikkei stock index was up 1.86 per cent. The pan-region Euro Stoxx 50 futures STXEc1 rose 0.23 per cent, German DAX futures were 0.16 per cent higher, while FTSE futures were up 0.12 per cent.
In commodities, oil prices slipped. Brent crude fell 42 cents, or 0.71 per cent, to $58.93 a barrel, while US West Texas Intermediate (WTI) crude dropped 44 cents, or 0.82 per cent, to $53.15.
(With inputs from Reuters)