The country?s equity indices continued their winning rally and ended the day with smart gains, following strong cues from Asian markets and buying in metal and realty stocks.
Overall, the BSE Sensex of added 127.51 points or 0.73% to end the day at 17,686.24 points, its highest close in 22 months. The broader Nifty of the NSE gained 45.70 points or 0.87% to close at 5,277.90 points. Elsewhere in Asia. Hong Kong?s Hang Seng Index climbed 2.1% while the Shanghai Composite Index gained 1.2%.
Barring auto, all the sectors in the BSE Sectoral indices ended the day on positive terrain with Metal Realty and Teck being the top performers of the day.
Positive debut by the initial public offer (IPO) of Godrej Properties coupled with inflows foreign inflows also boosted the sentiments of the market. Overseas investors continued to pump into the emerging markets, especially in Asia. According to the provisional figures provided by the BSE, foreign institutional investors (FIIs) were net buyers at Rs 970.29 crore while the domestic institutional investors bought stocks over Rs 300 crore.
Good news that the steel companies had reported strong offtake numbers in the month of December propped share prices. Tata Steel and JSW Steel saw sustained buying with JSW gaining more than 10% on Tuesday. And the sentiment spread to other metal stocks like Nalco and Sterlite as well.
Eros Int?l to raise Rs 350 cr
Eros International Media Limited (EIML), a part of the Eros group, plans to raise up to Rs 350 crore via initial public offering (IPO).
It has already filed a draft Red Herring prospectus (DRHP) with the Securities & Exchange Board of India.
The company has pre-IPO placement for Rs 20 crore. The issue proceeds will be used for acquiring and co-producing Indian films, including primarily Hindi language films as well as certain Tamil and other regional language films. EIML exclusively sources, primarily through acquisition and co-production, all Indian film content for Eros and its subsidiaries, the Eros Group.