Sensex, Nifty End Modestly Higher On Earnings Optimism

Sensex, Nifty End Modestly Higher On Earnings Optimism

The Nifty PSU bank index was trading 1.1 per cent higher, having fallen 1.4 per cent this month, up to Monday's close. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.1 per cent firmer at 549.71 points, not far from a 10-year high of 554.63 set last week.

Mumbai: The BSE Sensex staged a strong comeback to end higher by almost 117 points, reversing its three-session losing run on gains in telecom, energy, realty, oil & gas and IT stocks amid firm global cues.

Besides, positive cues from Asian markets with the Japan's Nikkei posting the longest winning-streak in its almost 70-year history as markets cheered the weekend election victory of Japan's pro-business prime minister, had positive impact, they said. The Sensex added 163.65 points to 32,670.37 while the NSE benchmark Nifty rose 52.9 points to 10,237.75 at its day's high.

"Technically, with the Nifty bouncing back after the recent weakness, the bulls seem to be making a comeback".

Global cues, along with healthy buying in banking stocks and expectations of positive quarterly results, buoyed the key equity indices during the mid-afternoon trade session on Tuesday.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed on a positive note.

On the currency front, the rupee remained flat.

Sector-wise, the S&P BSE banking index surged by 167.61 points, followed by oil and gas index by 101.48 points and metal index by 80.07 points.

On the other hand, Tata Motors (1.54%), Infosys (1.37%), Sun Pharmaceutical Industries (1.07%), Mahindra & Mahindra (0.81%), Hero Motocorp (0.59%), and Reliance Industries (0.36%) were the biggest losers in the Sensex.

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