By IANS,
Mumbai : A late buying spree helped a benchmark index of Indian equities market Tuesday close 224 points higher. The gainers were led by IT and metal stocks as firm corporate earnings continued to boost investor morale.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,983.2 points, closed at 19,092.05 points — up 209.8 points or 1.11 percent from its previous close at 18,882.25 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange too shut shop in the green, closing 69.3 points or 1.23 percent higher at 5,724.05 points.
Leading blue-chip IT company TCS reported a nearly 30 percent rise in the third quarter net profit. This along with positive results from some other front-line firms have helped boost investor sentiments, according to analysts of leading brokerages.
Broader markets, nudged higher, with the BSE midcap index closing 0.45 percent up and the BSE smallcap index ending 0.28 percent higher.
IT, metals and telecom stocks were among major gainers, while come energy scrips saw selling.
The market breadth was positive, with 1,490 stocks advancing compared to 1,342 scrips on the decline, while 169 stocks remained unchanged.
There were only four gainers on the Sensex: TCS, up 4.8 percent at Rs.1,200.55; Sterlite Industries, up 4.42 percent at Rs.177.15; Jindal Steel, up 3.06 percent at Rs.690.75; and Wipro, up 2.79 percent at Rs.479.15.
Top Sensex losers included Reliance Infra, down 4.53 percent at Rs.702.35; Tata Power, down 0.92 percent at Rs.1,331.70; Bharti Airtel, down 0.89 percent at Rs.344.50; and HDFC, down 0.63 percent at Rs.657.55.
According to data available with market regulator SEBI, foreign institutional investors sold scrips worth $11.79 million Tuesday.
Most other Asian stock markets closed flat, giving up early gains, as the effects of the Chinese central bank’s move to tighten monetary policy continued to cast a gloom on traders’ minds.
The Chinese Shanghai Composite index moved up a meagre 0.09 percent at 2,708.98 points, while Hong Kong’s Hang Seng also ended unchanged at 24,153.98 points.
The Japanese Nikkei also closed flat at 10,518.98 points.
European stocks were trading higher in mid-day sessions.
Around mid-day, the German DAX was ruling 0.99 percent higher at 7,147.9 points, while the French CAC 40 was trading 0.86 percent up at 4,009.58 points.
The UK’s FTSE was ruling 1.1 percent at 6,051.58 points.