BSE Sensex rises more than 300 points; ITC gains

Written by Reuters | Mumbai | Updated: Jun 24 2014, 16:35pm hrs
BSE SensexBSE Sensex recovers nearly 155 points in early trade on emergence of buying by funds and retail investors.
The BSE Sensex rose more than 300 points on Tuesday as blue-ship stocks such as ITC Ltd gained on value buying.

The BSE Sensex was up 312 points while the Nifty rose 79 points as of 10:43 a.m. ITC rose 1.3 per cent after shares in India's largest cigarette maker closed 6.2 per cent lower in the previous session.

Among other heavyweights, Reliance Industries (RIL) was up 1.9 percent while State Bank of India (SBI) gained 2.1 per cent.

Asian shares clinched slender gains on Tuesday as improved manufacturing data from China, Japan and the United States augured well for global growth, despite a disappointing result from the euro zone.

However, foreign institutional investors, who supported a 21 percent rally in the Nifty so far this year, sold Indian shares for the second straight day on Monday, with 2.15 billion rupees of stock offloaded.