NEW DELHI: Fresh spell of buying emerged ahead of FO expiry in Indian equity markets on Tuesday morning following heavy-selling witnessed by D-Street yesterday.
Financials, bank stocks, and index heavyweight Reliance Industries were major contributors behind Sensex's 150-point climb.
While oil's rise to 2019 high remains a worry, a reassurance from the United States that the country along with Saudi Arabia, and the United Arab Emirates would ensure that global oil markets remain adequately supplied helped soften the blow following ban on Irans oil exports.The rupee too ascended by 12 paise against the US dollar.The markets would also keep its eyes on the general elections today.
More than 18 crore voters in 13 states and two union territories, including all of Gujarat, Kerala and half of Karnataka, will line up to decide their fate in the third phase of the election today.
"We expect prolonging of consolidation in the range of 1185011550 amid stock specific action, ahead of April series derivative expiry and Q4FY19 result season," ICICIDirect said in a note.Sensex was up 180 points or 0.47 per cent at 38,825 while NSE Nifty rose 43 points, 0.37 per cent to 11,637.22 of 30 Sensex stocks traded in the green with YES Bank leading the gainer pack.
Other stocks that featured on the leaderboard were IndusInd Bank, ONGC, Sun Pharma, Reliance and HeroMotoCorp.On the other hand, NTPC was the worst Senex performer, shedding 2.23 per cent.
Tata Motors, LT, TCS, Tata Steel and TCS were among other stocks that traded lower today.BSE Midcap and BSE Smallcap traded higher by 0.13 per cent and 0.29 per cent, respectively.
On the BSE sectoral front, BSE Realty and Energy were the biggest gainers.Meanwhile, Foreign portfolio investors (FPIs) bought Rs 73.08 crore worth of domestic stocks on Monday, data available with NSE suggested.
DIIs were net sellers to the tune of Rs 68 crore, data suggested.