Sensex rises 776 points, Nifty ends at 17,200; auto, consumer durables shares lead gains

Equity markets closed higher on Tuesday led by gains in Titan, and Mahindra &Mahindra amid positive global cues. Sensex rose 776 points to 57,356 and Nifty ended 246 points higher at 17,200. PowerGrid, Titan, M&M , IndusInd  Bank and Bajaj Finance shares were the top Sensex gainers, rising up to 3.93 per cent.

Axis Bank, Asian Paints, Maruti Suzuki and TCS were the only losers, falling up to 0.72 per cent.

BSE mid-cap and small-cap indices rose 391 points and 219 points, respectively. Among BSE sectoral indices, auto and consumer durables were the top gainers rising 692 points and 932 points, respectively.

S Ranganathan, Head of Research at LKP Securities said, "Benchmark indices gained one and a half percentage today on expectations of record GST collections for April even as FII ownership dropped to multi-year lows at 20%. Bajaj Group stocks, autos & real estate stocks staged a smart recovery today with almost all sectoral indices ending in the Green. FIIs continue to be the second highest owners of financials in India after the GOI despite the sector seeing the highest FII selling during the last one year. The broader markets witnessed buying interest in Footwear stocks with half a dozen listed entities gaining share in both value for money as well as aspirational brands. Earnings expectations also buoyed stocks of state run enterprises of Gujarat in today's trade."

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All 19 BSE sectoral indices ended in the green. The market breadth was positive with 1952 shares ending higher against 1,442 stocks falling into the red. 108 shares were unchanged.

Market cap of BSE-listed firms stood at Rs 269.43 lakh crore today.

Foreign institutional investors continued their selling spree, offloading shares worth Rs 3,302 crore on Monday, according to stock exchange data.

On Monday, Sensex fell 617 points to 56,579 and Nifty ended 218 points lower at 16,953. Tata Steel, Tech Mahindra and NTPC were the top Sensex losers, falling up to 4.47 per cent. HDFC Bank, ICICI Bank and HDFC were the top Sensex gainers, rising up to 0.75 per cent. Of 30 Sensex stocks, 22 ended in the red. Market cap of BSE-listed firms fell to Rs 269.64 lakh crore.

Global markets

Asian shares were mostly trading higher on Tuesday after US stocks stormed back from sharp losses to log strong gains.

Tokyo, Hong Kong, Seoul and Shanghai advanced while Sydney declined. Oil prices rose and US futures also were higher.

The Kospi in Seoul gained 0.7% to 2,675.21. In Tokyo, the Nikkei 225 rose 0.5% to 26,726.65 while Hong Kong's Hang Seng gained 1.2% to 20,112.90. The Shanghai Composite index climbed 0.5% to 2,943.22. The Dow Jones industrial average rose 0.7% to 34,049.46, while the Nasdaq composite rallied 1.3% to 13,004.85.