Stock markets build on gains amid strong global cues; RIL gains

Equity indices darted up for the second straight session on Tuesday as healthy corporate results and upbeat global cues reignited risk appetite after the recent spell of weakness.
 
A rebounding rupee further bolstered sentiment, traders said. The 30-share BSE Sensex opened on a firm footing but ran into rough weather in afternoon trade, before staging a comeback to close 383.21 points or 0.63 per cent higher at 61,350.26.
 
On similar lines, the broader NSE Nifty surged 143 points or 0.79 per cent to end at 18,268.40. Tata Steel topped the gainers' chart on the Sensex, spurting 3.92 per cent, followed by Titan, Nestle India, Bajaj Finance, Tech Mahindra, Kotak Bank and RIL.

 

Market heavyweight Reliance Industries accounted for around half of the benchmark's gains. On the other hand, IndusInd Bank, ICICI Bank, PowerGrid, HUL, NTPC, Dr Reddy's and Axis Bank were among the laggards, shedding up to 1.92 per cent.
 
"Markets managed to end higher in a volatile trading session, thanks to firm global cues. Upbeat earnings announcements from the US markets set the tone in the beginning however choppiness in the index majors, especially from the banking pack, in the middle kept the participants on their toes," said Ajit Mishra, VP - Research, Religare Broking.