Yes Bank supports mkts to extend gains

Mumbai: Equity benchmark BSE Sensex on Tuesday rose by 234 points, extending gains for the second straight day as index major Reliance Industries, Yes Bank and Tata Motors advanced.

The 30-share index closed at 39,131.04 points, showing a rise of 234.33 points or 0.60 per cent. It touched an intra-day high of 39,173.89 and a low of 38,845.27 during the day.

The broader NSE Nifty ended 74.25 points or 0.64 per cent up at 11,662.60. During the day, the index hit a high of 11,670.05 and a low of 11,573.95.

"Indian markets are showing resilience as we move into earnings season," said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.

The market has clearly factored in dismal earnings, but is cheering the decline in interest rates, improving liquidity as well as incremental positive news on resolution of some of the large stressed assets, he pointed out.

Broader BSE midcap and smallcap indices followed benchmarks, closing up to 0.69 per cent higher. Sectorally, BSE realty, oil and gas, consumer durables, power, utilities, energy and capital goods indices ended in up to 1.98 per cent higher. While, BSE IT and teck indices settled up to 0.59 per cent lower.

Market breadth was negative as 1,300 scrips declined while 1,162 advanced. Elsewhere in Asia, Shanghai Composite Index and Nikkei ended in the green, while Hang Seng and Kospi settled in the red. Equities in Europe were trading higher in their respective early sessions.

On the currency front, the Indian rupee depreciated 17 paise to 68.72 (intra-day) against the US dollar as crude oil prices continue to rise.

The global oil benchmark Brent crude futures were trading 0.36 per cent higher at $66.72 per barrel.