Sensex vaults 213 points ahead of economic data, earnings

The Sensex at the BSE closed 213 points or 0.72 per cent higher at 29,788 while the NSE Nifty ended 56 points or 0.61 per cent up at 9,237. A Reuters report said, "Global stock markets were pressured on Tuesday as rising tensions in the Middle East and political uncertainty in Europe kept investors on edge, underpinning safe assets such as the yen, gold and Treasuries".

In the Asian region, Hong Kong's Hang Seng was down 0.76 per cent and Japan's Nikkei fell 0.48 per cent while Shanghai Composite shed 0.36 per cent in early trade on Tuesday.

Shares of Infosys surged as the company is set to announce it's Q4 results on April 13, 2017.

The NSE index Nifty was also trading higher by 7.95 points, or 0.09 per cent, at 9,189.40.

Market breadth was positive with 1,622 advances against 1,102 declines.

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The rupee recovered some of the lost ground after taking a battering overnight, advancing 6 paise to 64.50 against the United States dollar amid mild selling of the American currency by exporters. "India's IIP and CPI release tomorrow will keep market interested, but may not make a strong move until Q4 numbers start flowing in", said Anand James, Chief Market Strategist, Geojit Financial Services.

Sectoral indices such as IT, technology, telecom, refinery and power witnessed robust buying.

Meanwhile, the foreign funds sold net Rs. 716.19 crore yesterday, as per provisional figures.

Major gainers were ITC 1.74 per cent, Infosys 1.48 per cent, HDFC 1.16 per cent, Wipro 1.05 per cent and ICICI Bank 0.94 per cent.

  • Ronnie Bowen