Holding on to recovery for the third day in a row, the domestic equity market ended on a firm note on Tuesday. The S&P BSE Sensex added 297 points or 0.85 per cent to end at 35,162, with Mahindra & Mahindra (up 4 per cent) being the top gainer and HDFC Bank (down 1 per cent) the biggest loser. The broader NSE's Nifty50 ended at 10,585, up 72 points or 0.69 per cent.
Positive global cues and strong quarterly earnings season boosted the investor sentiment on Dalal Street. IT major Infosys ended flat at Rs 696, down 0.4 per cent ahead of its Q2 results, due later in the day.
Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns capped gains.
Amid individual stocks, shares of Hathway Cable and DEN Networks rallied up to 8 per cent in opening deals on Tuesday on reports that Mukesh Ambani led-Reliance Industries may soon buy controlling stakes in two of India’s largest cable TV and broadband service providers, Hathway Cable & Datacom, and DEN Networks, as it seeks to ramp up coverage of its ambitious high-speed broadband network.
MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.25 per cent, crawling away from a 19-month trough touched on Thursday. Japan’s Nikkei bounced 0.3 per cent following a decline of nearly 2 per cent the previous day.