An upbeat undertone owing to sustained foreign fund inflows helped the Bombay Stock Exchange (BSE) Sensex close above the 5,600 level. |
The Sensex hit an intra-day high of 5,611.60 and a low of 5,536 before closing at 5,605.93, a gain of 1.08 per cent (60.11 points) from Monday's close. |
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Metal, information technology, pharmaceutical and power scrips were in the limelight. |
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Market players said investors were optimistic and were of the opinion that the inflation had peaked and were looking ahead to strong corporate earnings for the July-September quarter. |
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The BSE Metal Index was the biggest gainer, rising 2.28 per cent, followed by the IT Index, up 1.80 per cent and the Bankex Index up 1.67 per cent. |
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The BSE FMCG Index was the biggest loser, down 0.77 per cent. |
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ICICI Bank was the top gainer among Sensex stocks, up 3.57 per cent to Rs 288.75, followed by Cipla, up 3.45 per cent to Rs 284.90, Wipro up 3.17 per cent to Rs 599.10, Hindalco up 2.71 per cent to Rs 1284.15 and Tata Power up 2.67 per cent to Rs 313.20. |
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Zee Telefilms was the biggest loser in the Sensex basket, down 3.48 per cent to Rs 148.45, followed by Grasim down 1.30 per cent to Rs 1,154.45, and Hindustan Lever fell 1.20 per cent to Rs 123.80. |
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Easing international oil prices had also contributed to the recent gains of the market, they added. |
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Expectations of strong corporate earnings for the quarter ended September was driving investors to the market, dealers said. |
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Blue chips witnessed good buying interest but gains were capped, with 22 out of the Sensex stocks closing higher. |
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The broader markets were also positive with gainers outpacing losers in the 3:2 ratio on the BSE. |
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Turnover was higher than on Monday in the cash segment. The BSE reported a turnover of Rs 1,967.39 crore and the National Stock Exchange posted a turnover of Rs 4,425.35 crore. |
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Foreign institutional investors were net buyers of Indian shares worth Rs 220.10 crore on Monday, while domestic mutual funds were net sellers to the tune of Rs 71 crore. |
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