Sensex at 2-week high; up 226 pts
The BSE benchmark Sensex today climbed to 2-week high by adding 226 points amid indications of higher advance tax payout by corporates, suggesting improved earnings, and a firm trend in global markets.business Updated: Mar 13, 2012 17:34 IST
The BSE benchmark Sensex on Tuesday climbed to 2-week high by adding 226 points amid indications of higher advance tax payout by corporates, suggesting improved earnings, and a firm trend in global markets.
The Sensex, which gained 442 points in the last two sessions, gained another 225.95 points, or 1.28 %, to 17,813.62, close to February 24 level.
The broad-based National Stock Exchange index Nifty regained the 5,400 mark by rising 69.95 points, or 1.31 per cent to 5,429.50.
Brokers said market players were optimistic that reports of higher advanced tax payments by corporate indicate improved outlook for fourth quarter earnings. On Friday, the Reserve Bank had cut cash reserve ratio (CRR) for banks so as to infuse Rs 48,000 crore in the financial system to overcome the liquidity crunch.
Globally, stock markets were up on easing of debt crisis in Greece.
Reliance Industries, Infosys, ONGC, Tata Steel and banking stocks lifted the buying sentiment, they said.
In the 30-scrip BSE index, 25 closed with gains. All the 13 sectoral indices gained up to 3 %.
Of top Sensex heavyweights, Reliance Industries shot up 2.72 %, while Infosys gained 1.51 %.
The metal sector index gained 3.01 % at 11,953.73, followed by oil and gas - 2.60 % to 8,658.43. Power index rose 1.52 % to 2,266.34.