In volatile trading, the Bombay Stock Exchange benchmark Sensex on Tuesday ended higher by over 82 points on late buying in bluechips, led by the refinery and banking segments, and firming Asian bourses.
In volatile trading, the Bombay Stock Exchange benchmark Sensex on Tuesday ended higher by over 82 points on late buying in bluechips, led by the refinery and banking segments, and firming Asian bourses.
The Sensex, which commenced the day with heavy losses, rebounded by 82.60 points at 9,149.30, on fag-end buying in leading stocks like Reliance Industries and ICICI Bank, spurred by firming trends in overseas markets amid speculation that the interest rate cuts would spur economic growth.
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The key index moved between 9,302.75 and 9,040.56 points during the day.
The 50-share National Stock Exchange index Nifty also rose by 17.25 points at 2,783.90, after touching the day's high of 2,831.70 and a low of 2,752.90 points.
While trading in refinery stocks picked up as crude oil improved in overnight buying, financial company stocks rose after Macquarie Group, an Australia-based global financial advisor, forecast that interest rate cuts by the central bank would trigger economic recovery.
The oil and gas index gained the most by rising 1.44 per cent to 6,145.59 after the segment major and Sensex-heaviest Reliance Industries rose by Rs 25 at Rs 1,302.55 following reports of the company starting natural gas production at the KG-D6 fields in the first week of March.
The FMCG index was the second-best performer, adding 1.01 per cent to 2,040.32, followed by information technology by 0.66 per cent to 2,195.04. The tech index rose by 0.64 per cent to 1,774.73.
The emerging-market stocks, rising for the first time in three days after gains in oil and other commodities, increased the attractiveness of assets from developing economies, marketmen said.
The MSCI Emerging Markets Index rose one per cent to 522.28 in London, after falling three per cent in the previous three days.
Bulgaria s Index climbed 1.5 per cent, Turkey s Index rose 1.6 per cent and Kuwait s Index gained 1.2 percent.
The banking index gained 0.53 per cent to 4,674.02 as sector major HDFC Bank was up 1.17 per cent to Rs 898.90, ICICI Bank 1.77 per cent to Rs 391.70 and Punjab National Bank 1.75 per cent to Rs 397.60.
The capital goods index rose 0.21 per cent to 6,099.06 after stocks of Bharat Heavy Electricals rose 2.3 per cent to Rs 1,338.65, Bharat Electric by 1.99 per cent to Rs 861.95 and ABB by 1.32 per cent to Rs 461.
10. However, some sectoral indices fell on profit selling and checked the upsurge in the benchmark. The realty index fell by 7.59 per cent to 1,382.49 as Delhi-based construction major DLF Ltd dropped 13.25 per cent to Rs 132.90, extending yesterday s 14 per cent decline.
The consumer durables index fell by 2.85 per cent to 1,655.34, healthcare index by 0.72 per cent to 2,661.79, the metals index by 0.56 per cent to 4,800.80, the auto index by 0.13 per cent to 2,461.99, the power index by 0.10 per cent to 1,726.29 and the PSU index by 0.04 per cent to 4984.89.
With profit-selling spilling over widely, the midcap index fell 0.77 per cent to 2,873.63 and the smallcap index by 0.42 per cent to 3,274.03.
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