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Energy, IT stocks push markets to end in green
Equity benchmarks Sensex and Nifty on Tuesday notched gains for a second session in a row, helped by oil and gas, IT and financial counters
Mumbai: Equity benchmarks Sensex and Nifty on Tuesday notched gains for a second session in a row, helped by oil and gas, IT and financial counters, as investors remained optimistic about reforms push in the Union Budget due on Friday.
Both indices traded in the red for a better part of the session due to high volatility as participants kept weighing a host of domestic and global factors like weak manufacturing data, fall in GST collections, slow progress of monsoon and concerns over global economic growth.
The 30-share Sensex settled 129.98 points, or 0.33 per cent, higher at 39,816.48.
The index hit an intra-day high of 39,838.49 and a low of 39,499.19. The broader NSE Nifty too rose 44.70 points, or 0.38 per cent, to finish at 11,910.30.
Sectorally, BSE oil and gas, energy, IT and utilities rose as much as 1.11 per cent. On the other hand, BSE realty, healthcare, bankex and industrials indices fell up to 1.82 per cent. Broader BSE midcap index gained 0.38 per cent, and BSE smallcap index ended flat.
After a weak start market regained in expectation of improvement in government's spending to support economic growth with minimum dilution of fiscal target in the short-term.
IT index out-performed due to fall in rupee while momentum was seen in bond as premium valuation on equity influenced risk averse to stay on bonds.
On the currency front, the Indian rupee was almost flat at 68.95 against the $. Foreign investors bought equities worth Rs 426.53 crore on a net basis on Monday, according to exchange data.
Brent crude futures, the global oil benchmark, slipped 0.22 per cent to $64.92 per barrel.
