Sensex rises 379 pts, Nifty ends above 17,800; auto, energy shares gain

The stock market ended higher on Tuesday amid mixed global cues. Sensex rose 379 points to 59,842 and Nifty closed 127 points higher at 17,825. Of 30 Sensex stocks, 25 ended in the green. M&M, Maruti, Asian Paints, HUL and Ultratech Cements were the top Sensex gainers, rising up to 2.28 per cent.

SBI, Bharti Airtel, Bajaj Finance, TCS and NTPC were the top Sensex losers, falling up to 0.90 per cent.

Rupak De, Senior Technical Analyst at LKP Securities said, "Nifty has given a falling trend line breakout on the daily chart suggesting a rise in optimism. The momentum oscillator RSI is in the overbought zone; however, no bearish crossover is visible in the indicator. The trend is likely to remain positive as long as it remains above the falling trendline. The profit booking in the market may come once Nifty falls below the trend line. Support on the lower end is visible at 17,700. On the higher end, resistance is seen at 18,000."

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Mid-cap and small-cap indices on BSE gained 256 points and 258 points, respectively.

Auto, oil and gas, consumer durables and banking stocks were the top sectoral gainers with their BSE indices zooming 761 points, 348 pts, 299 pts and 205 pts respectively.

Market breadth was positive with 1,990 stocks ending higher against 1,554 stocks falling on BSE. 161 shares were unchanged.

Vinod Nair, Head of Research at Geojit Financial Services said, "The easing of inflationary pressures has encouraged domestic investors to remain optimistic about the pace of economic recovery. Better-than-expected CPI numbers, aided by slower increase in food and fuel prices, may limit the pace of rate hikes by the RBI. In the Asian market, the Chinese central bank surprised the market by cutting its interest rates after a weak set of economic data. Following that, oil prices slumped on demand worries."

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Market cap of BSE-listed firms rose to Rs 278.01 lakh crore.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 3,040 crore on Friday, as per exchange data.

Previous Session

Sensex rose 130 points to 59,462 and Nifty closed 40 points higher at 17,699. Of 30 Sensex stocks, 13 ended in the green. NTPC, Tata Steel and PowerGrid were the top Sensex gainers, rising up to 3.26 per cent. Infosys, Maruti Suzuki and L&T were the top Sensex losers, falling up to 1.56 per cent.

Global markets

In Asia, Seoul and Shanghai ended higher, while Tokyo and Hong Kong settled lower. Equities in Europe were trading higher in mid-session deals. Markets on the Wall Street had ended higher on Monday.

Stock markets were closed on Monday on account of Independence Day.

Meanwhile, the international oil benchmark Brent crude dipped 0.86 per cent to $94.28 per barrel.