Sensex gained 60 points or 0.4% at 15,688 while, Nifty gained 16 points to shut shop at 4,659.

Indian markets extended its upswing for the third straight trading session on Tuesday with the NSE Nifty closing above the 4650 levels. The BSE Sensex has added nearly 450 points in the last 3 days.

Markets started off on a weak note mainly on the back of weak global cues coupled with selling pressure in the heavyweights. However, a sharp pull back in the Shanghai Se Composite in China lifted the sentiments on Dalal Street invigorating the NSE Nifty to end above the 4,650 levels.

The BSE Sensex gained 60 points or 0.4% at 15,688 after touching a high of 15,735 and a low of 15,423. The index opened at 14,574 against the previous close of 15,629. The NSE Nifty gained 16 points to shut shop at 4,659.

In Asia, the Nikkei in Japan ended lower by 0.8% at 10,497 while Australia’s S&P/ASX lost 0.5% at 4,405. The Hang Seng index in Hong Kong slipped 0.5% at 20,435. Shanghai SE Composite in China gained by 2.5% at 2,915.

In Europe, stocks were trading in flat. The FTSE in the UK was, the DAX in Germany and the CAC 40 index in France were flat with a slight negative bias.

Coming back to India, among the BSE sectoral indices, the IT index was the top gainer, gaining 2%, followed by the Consumer Durables index that was up 2%. The BSE Oil & Gas index up 1.1% and the BSE Pharma index was up 1%.

The BSE Mid-Cap index gained 0.6% and the BSE Small-Cap index gained by 1.5%.

Among the 30-components of Sensex, 15 stocks were in the green while the other 15 ended in the red. The major gainers were Tata Motors, Wipro, Reliance Industries, RCom, Grasim and NTPC.

Among the major losers were, SBI, BHEL, Bharti, ICICI Bank and ONGC.

Outside the frontline indices, the big gainers in the broader market were Jubilant Org, Rolta, Mphasis, Educomp and HCL Tech. On the other hand, losers included Nagarjuna Const, Jai Corp, Tulip Tele and BEL.

Sugar stocks were under pressure after the government imposed limits on how much of the commodity users are allowed to hold. The government said that the bulk users of sugar, whose monthly consumption exceeds 1mt should not stockpile more than 15-days worth of the sweetener, the food ministry said.

Shares in Balrampur Chini fell 2.7%, Renuka Sugars declined 2%, while Triveni Engineering ended lower by 2%.

source: Indiainfoline

Tags: nifty close levels, nifty resistance, nifty support, nifty tips, nse bse tips

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