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Sensex up 362 pts, gains 2nd day in row

MUMBAI: Benchmark Sensex climbed nearly 362 points while Nifty ended above 25,000 level higher on Tuesday, marking their second straight day of gains following a rebound in the US markets and fresh foreign fund inflows.

The 30-share BSE Sensex climbed 361.75 points or 0.44 per cent to settle at 81,921.29 driven by gains in IT, telecom and select banking shares. During the day, it jumped 637.01 points or 0.78 per cent to 82,196.55.

The NSE Nifty surged 104.70 points or 0.42 per cent to 25,041.10.

Among the 30 Sensex firms, NTPC, HCL Technologi­es, Bharti Airtel, Tech Mahindra, Power Grid, Axis Bank, Tata Consultanc­y Services and Adani Ports were the biggest gainers.

Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Mahindra & Mahindra, Tata Motors and State Bank of India were among the laggards.

“The domestic market showcased a gradual rebound driven by the shift in focus towards upcoming US inflation and potential FED policy stance. The US political risk and recession fears may set near-term cautious sentiments in the global market.

“On the domestic front, a strong monsoon, and an expectatio­n of an uptick in demand during festival season will drive investor sentiment, “Vinod Nair, head, research, Geojit Financial Services, said.

In the broader market, the BSE smallcap gauge climbed 1.53 per cent and midcap index went up 0.53 per cent.

Among the indices, telecommun­ication jumped 2 per cent, utilities (1.76 per cent), power (1.74 per cent), teck (1.62 per cent), IT (1.52 pr cent), industrial­s (1.25 per cent), services (1.20 per cent) and healthcare (1.10 per cent).

Financial Services, oil & gas were the laggards.

A total of 2,587 stocks advanced while 1,352 declined and 103 remained unchanged on the BSE.