BSE Sensex rises around 300 points; ITC gains

Reuters Market Eye - The BSE Sensex rose around 300 points on Tuesday as blue-ship stocks such as ITC Ltd gained on value buying.

The BSE Sensex was up 288 points while the Nifty rose 73 points as of 11:30 a.m.

ITC rose 1.6 percent after shares in India's largest cigarette maker closed 6.2 percent lower in the previous session.

Among other heavyweights, Reliance Industries Ltd was up 1.99 percent while State Bank of India gained 1.96 percent.

Asian shares clinched slender gains on Tuesday as improved manufacturing data from China, Japan and the United States augured well for global growth, despite a disappointing result from the euro zone.

 

However, foreign institutional investors, who supported a 21 percent rally in the Nifty so far this year, sold Indian shares for the second straight day on Monday, with 2.15 billion rupees of stock offloaded.