Sensex and Nifty closed at a five-week high on Tuesday ahead of the CPI inflation data scheduled for later today. BSE Sensex advanced 276 points to end at 32,158.66 points while NSE Nifty gained 87 points to close at 10,093.05 points.
Sensex and Nifty closed at a five-week high on Tuesday ahead of the CPI inflation data scheduled for later today. The value buying in blue-chip shares such as ITC, HDFC, and Tata Motors led the benchmark indices to end higher. Meanwhile, Asian markets also ended higher as the worries over North Korea seemed to ease. BSE Sensex advanced 276 points to end at 32,158.66 points while NSE Nifty gained 87 points to close at 10,093.05 points. However, the benchmark Sensex gained 290 points to mark the day’s high of 32,172.46 points in the intraday trade today.
Tata Steel shares surged 4.64% to the 6-1/2 year high of Rs 692 before closing 3.3% higher at Rs 683.15 on BSE and was the biggest gainer on the benchmark Sensex today on prospects of a deal with Germany’s Thyssenkrupp AG. Thyssenkrupp said on Monday it may reach an agreement in principle in September to merge its European steel business with that of Tata Steel. Other gainers on the index include Sun Pharma (), Tata Motors (), Hindustan Unilever, Mahindra & Mahindra (), and Asian Paints ().
HDFC Bank today become the second most valued company in India in terms of market valuation after it surpassed Tata Consultancy Services (TCS) on Tuesday. The market capitalisation of HDFC Bank hit Rs 4,73,530.72 crore during the afternoon trade, leaving behind the leading IT services company. HDFC Bank gained Rs 797.4 crore more than TCS’ Rs 4,72,733.32 crore valuation.
Shares of heavyweight companies such as ITC, HDFC, Tata Motors, Hindustan Unilever, TCS, Sun Pharma, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Steel, Reliance Industries, and HDFC Bank contributed the most to the Sensex gains. Collectively these eleven stocks alone added about 220 points out of the 276 points rise in the index.
Meanwhile among regional markets, Japan’s benchmark Nikkei 225 gained 1.2% to finish at 19,776.62, Australia’s S&P/ASX 200 was up 0.6% at 5,746.40, while South Korea’s Kospi edged up 0.2% to 2,364.08 points. Hong Kong’s Hang Seng inched up but was little changed at 27,960.40, while the Shanghai Composite lost nearly 0.1% to 3,373.62.