Sensex Climbs Nearly 300 Points To End At 35,162, Nifty Tops 10,580

The domestic stock markets closed on a higher note on Tuesday, amid optimism on quarterly earnings from heavyweights and recovery in the rupee. The S&P BSE Sensex advanced 297.38 points or 0.85 per cent to end at 35,162.48. The Nifty50 index of the National Stock Exchange (NSE) climbed 72.25 points or 0.69 per cent to settle at 10,584.75. Both indexes closed at highest levels since October 4. All sectoral indices ended in the green, with banks, realty, auto, IT, pharma and FMCG stocks leading the charge.

The equity indices closed on a positive note for a third consecutive session after a global rout on Thursday had put them on the worst start to the October quarter in a decade.

Twenty one out of 30 Sensex stocks finished the session in the green. Prominent gainers in the 30-share Sensex pack were Mahindra & Mahindra (+3.97 per cent), Adani Ports (+3.54 per cent), ONGC (+3.44 per cent), SBI (+2.60 per cent), ICICI Bank (+2.51 per cent) and Axis Bank (+2.25 per cent). Mahindra & Mahindra (+4.01 per cent), Adani Ports (+4 per cent), ONGC (+3.22 per cent), Tech Mahindra (+2.94 per cent) and SBI (+2.72 per cent) led the pack of Nifty gainers.

Investors shifted their focus to September quarter earnings season from global trade and geopolitical tensions. Hero MotoCorp and Infosys are among the key companies reporting their Q2 results later in the day. "Lower crude, strong rupee and strong earnings from companies like IndusInd and Indiabulls Finance led the strength in the domestic market", Viral Berawala, CIO, Essel Mutual Fund told NDTV.

In terms of stock-specific action, Federal Bank's shares settled 8.03 per cent up on BSE after the lender posted 0.9 per cent rise in second-quarter net profit, helped by higher interest income. Shares of oil marketing companies such as Bharat Petroleum and Indian Oil remained strong, rising up to 2.06 per cent on falling global crude oil prices.

Infosys' shares closed 0.39 per cent down, at Rs 696.40 per share on BSE.

Domestic institutional investors (DIIs) bought shares worth Rs 294.78 crore, while foreign institutional investors invested Rs 67.86 crore on Monday, as per provisional data issued by stock exchanges. 

(With inputs from agencies)