Sensex up 222 points; bank stocks gain


Mumbai, July 15 (IANS): After five consecutive sessions of losses, a benchmark index of Indian equities markets Tuesday closed 221.67 points or 0.89 percent higher as interest rate sensitive stocks like banking and capital goods stocks surged.

Healthy buying was observed in consumer durables, automobile and oil and gas sectors, while marginal selling pressure was seen in fast moving consumer goods (FMCG) and information technology (IT) stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,100.90 points, closed trade at 25,228.65 points (provisional), 221.67 points or 0.89 percent up from the previous day's close at 25,006.98 points.

The Sensex touched a high of 25,254.48 points and a low of 25,020.32 points in the inta-trade.

According to market analysts, there was healthy buying in interest sensitive stocks after Monday's data that showed easing of headline inflation to a four-month low of 5.43 percent in June against 6.01 percent in May.

In Tuesday's trade, the S&P BSE bankex gained 458.18 points, capital goods index surged by 337.77 points, consumer durables index moved up by 229.93 points, automobile index increased by 214.22 points and oil and gas index rose by 167.12 points. 

However, FMCG index dipped 21.66 points and IT index fell 16.03 points. 

The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended trade at 72.50 points or 0.97 percent up at 7,526.65 points.

The major Sensex gainers were: State Bank of India (SBI), up 4.32 percent at Rs.2,516.20; ICICI Bank, up 3.66 percent at Rs.1,393.55; Axis Bank, up 2.75 percent at Rs.1,897.50; and Mahindra and Mahindra, up 2.60 percent at Rs.1,197.10.

The losers were: DrReddys Lab, down 1.96 percent at Rs.2,640.70; Hero MotoCorp, down 1.76 percent at Rs.2,409.15; NTPC, down 1.46 percent at Rs.145.60; Tata Consultancy Service (TCS), down 1.01 percent at Rs.2,400.20; and Hindustan Unilever, down 0.83 percent at Rs.618.85.

Among the Asian markets, Japan's Nikkei closed 0.64 percent up while Hong Kong's Heng Seng ended 0.49 percent lower. China's Shanghai Composite Index went 0.18 percent up.

In Europe, London's FTSE 100 was up 0.09 percent, the French CAC 40 was lower by 0.34 percent and Germany's DAX Index had lost 0.19 percent at the closing bell here.

  

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Title: Sensex up 222 points; bank stocks gain



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