Sensex vaults 213 pts ahead of economic data, earnings
- Author: Wendy Palmer Apr 12, 2017,
Apr 12, 2017, 3:23
At the close, the benchmark 30-share index, BSE Sensex added 212.61 or 0.72% at 29,788.35 with 19 components posting rise.
Overseas, Asian stocks declined 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. The S&P BSE mid-cap index rose by 0.39 per cent, while the small-cap index closed higher by 1.01 per cent.
USA stocks closed fractionally higher yesterday amid geopolitical tensions, while investors looked ahead to the start of earnings season.
Shares of Infosys surged as the company is set to announce it's Q4 results on April 13, 2017.
On Monday, the BSE Sensex closed 130 points or 0.44 per cent down at 29,576, while the NSE Nifty ended 17 points or 0.18 per cent lower at 9,181.
"Value buying re-emerged after the last few of days' consolidation made the prices attractive", said Anand James, chief market strategist at Geojit Financial Services.
Sectoral indices such as FMCG, capital goods, PSU, realty and banking were in the lead, giving sentiment a lift.
Followed by others gainers - State Bank of India (Rs 290.60 a piece), Dr Reddy Laboratories (Rs 2,647.60 a piece), Sun Pharma (Rs 669.95 a piece), ONGC (Rs 187.15 a piece), Maruti Suzuki (Rs 6,285.55 a piece) and Wipro (Rs 505.20 a piece) trading in the range of 0.30% - 0.70%.
Meanwhile, the foreign funds sold net Rs. 716.19 crore yesterday, as per provisional figures.
Top gainers in the Sensex-30 pack: ITC (up 3.2 per cent), Power Grid (up 2.2 per cent), ICICI Bank (up 1.9 per cent), L&T (up 1.8 per cent) and SBI (up 1.6 per cent).