Sensex gains 85 points; capital goods stocks rise

Sensex gains 85 points; capital goods stocks rise
Sensex gains 85 points capital goods stocks rise

A day after it gained over 400 points, a benchmark index of the Indian equities market, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE), was trading more than 85 points or 0.30 percent up in the mid-afternoon session on Tuesday.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the positive zone. It rose by 29.30 points or 0.35 percent at 8,382.40 points. The Sensex of the S&P BSE, which opened at 27,760.11 points, was trading at 27,816.55 points (at 1.15 p.m.), up 86.34 points or 0.31 percent from the previous day's close at 27,730.21 points.

The Sensex touched a high of 27,882.66 points and a low of 27,666.59 points in the intra-day trade so far. According to Angel Broking, the Indian markets opened on a positive note tracking SGX Nifty and some of its Asian peers.

The brokerage firm said the Indian markets rallied sharply on Monday as investor optimism grew on the fact that Greece and its creditors would strike a last-minute deal at a crucial emergency eurozone summit.

Another positive development was the metrological prediction that the June rainfall was likely to end with a 16 percent surplus over the long period average. The markets gained for the seventh straight session on Monday.

During intra-day trade on Tuesday, healthy buying was observed in capital goods, metal, bank, oil and gas and healthcare sectors. However, stocks of information technology, consumer durable and technology, entertainment and media (TECK) came under heavy selling pressure.

The S&P BSE capital goods index zoomed by 280.10 points, followed by metal index which augmented by 123.40 points, banking index rose by 91.07 points, oil and gas index was higher by 88.94 points and healthcare index was up by 50.80 points. However, the S&P BSE IT index receded by 98.93 points, consumer durables index was lower by 69.56 points and TECK index was down by 43.38 points.

Sensex gains 85 points capital goods stocks rise