Sensex Rises Over 350 Points, Nifty Ends Above 18,250 Led By Kotak Bank

Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, ITC, Tata Steel and Asian Paints were among the top movers in the Sensex.

Sensex Rises Over 350 Points, Nifty Ends Above 18,250 Led By Kotak Bank

The Indian equity benchmarks gained for second straight session on Tuesday led by gains in Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, ITC, Tata Steel and Asian Paints. After staging a gap up opening, the benchmarks, traded in a range bound manner in the first half of the session. However, steady buying interest in auto and metal shares lifted the benchmarks to close at intraday highs in the latter part. The Sensex rose as much as 531 points to hit an intraday high of 61,497.71 and Nifty 50 index touched an intraday high of 18,310.

The Sensex advanced 383 points to close at 61,350 and Nifty 50 index advanced 142 points to settle at 18,268.

Buying was visible across the board as all the 19 sector gauges compiled by the BSE ended higher led by the S&P BSE Realty index's over 3 per cent gain. Metal, Auto, Oil & Gas, Consumer Durables, Energy, Consumer Discretionary Goods & Services, FMCG, Industrials and CONSUMER DURABLES indices also rose between 1-2.9 per cent.

Mid- and small-cap shares outperformed their larger peers as S&P BSE MidCap index advanced 1.75 per cent and S&P BSE SmallCap index rose 2.2 per cent.

Among the individuals shares, Ceat Limited fell as much as 7.94 per cent to hit an intraday low of Rs 1,191 after its profit declined in the second quarter of the current financial year.

Canara Bank fell over 4 per cent to close at Rs 193 despite its profit tripling in September quarter.

Kotak Mahindra Bank ended 2.77 per cent higher at Rs 2,214 after its asset quality improved in second quarter of the current financial year.

Tata Motors was the top Nifty gainer, the stock rose 5.84 per cent to close at Rs 508. Tata Steel, SBI Life, Nestle India, Titan, JSW Steel, Hindalco, Bajaj Finance, Asian Paints and Tata Consumer Products also rose between 2.8-4 per cent.

On the flipside, IndusInd Bank, ICICI Bank, Power Grid, NTPC, HDFC Bank, Dr Reddy's Labs, Bharat Petroleum, TCS, Hindustan Unilever, Adani Ports and Axis Bank were among the losers.

The overall market breadth was positive as 2,218 shares ended higher while 1,0556 closed lower on the BSE.

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