INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Frontline indices Sensex and Nifty closed at fresh record highs on Tuesday, buoyed by gains in metal, auto and financial stocks
amid positive global cues.
The domestic stocks rallied for a third consecutive day, in line with global market, which too climbed for a
third day in the row after China indicated that Beijing would take steps to give a stimulus to its economy.
Positive sentiment prevailed
after the GST Council slashed rates on over 100 items on Saturday, a day after the NDA winning no-confidence motion in Parliament
Following this, FMCG, capital goods and consumer discretionary stocks turned bullish, making Nifty and Sensex scaling new peaks.
At the
macro level, global crude oil prices also eased up in the wake of a glut in supply
Indian rupee, barring intermittent hiccups, firmed and foreign funds inflow improved
The Sensex climbed 106 points, or 0.29 per cent, ending the day at the fresh peak of 36,825.
The Nifty rose about 50 points, or 0.45 per
cent, settling at 11,134.
Sensex saw 20 stocks advancing and 11 declining, whereas 32 stocks closed the day in the green and 18 in the red
in the Nifty pack.
BSE Midcap and smallcap indices displayed stellar gains, surging 1.77 per cent and 2.21 per cent, respectively.
Larsen
Toubro, Infosys and HDFC stood as the top drivers of the rally in Sensex index.
Maruti Suzuki, Asian Paints and Mahindra Mahindra too
contributed significantly.
However, Reliance Industries, Kotak Mahindra Bank, Hindustan Unilever and Tata Consultancy Services failed to
perform on Tuesday and ended up as the top drags on the Sensex kitty of stocks.
Bajaj Auto and Hero MotoCorp extended their fall on Tuesday
and touched fresh 52-week lows
Both settled with losses of up to 2 per cent
Shares of Idea Cellular closed 7 per cent up on the BSE, on the back of the telco and Vodafone India clearing their dues of Rs 7,268 crore
with the telecom department, which paves the way for their merger
Cement stocks dazzled on Tuesday, with ACC surging 13 per cent, on the back of June quarter earnings
Many brokerages, including CLSA and HSBC, are positive on ACC, terming the earnings as ahead of consensus estimates
Media reports suggested that cement export to BRICS nations is expected to increase soon
Sugar stocks also jumped today amid a tight supply of sugar in the wholesale market owing to ongoing nationwide truckers' strike.
Barring
BSE Bankex and energy, all indices settled in the green
Global stocks were moving up.
