Mumbai July 11 (IANS) Positive global cues coupled with short coverings and expectations of healthy quarterly results pushed the Indian equity markets to fresh closing as well as intra-day highs on Tuesday.
However the key indices ceded most of their gains during the last hour of the day s trade due to profit bookings.
The wider Nifty of the National Stock Exchange (NSE) closed at a new high of 9 786.05 points -- up 15 points or 0.15 per cent over Monday s closing. It recorded a new intra-day high of 9 830.05 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 789.50 points closed at a fresh peak of 31 747.09 points -- up 31.45 points or 0.10 per cent from Monday s close at 31 715.64 points.
The Sensex touched a high of 31 885.11 points -- a new record -- and a low of 31 718.48 points during the intra-day trade.
On Monday the NSE Nifty gained 105.25 points or 1.09 per cent to close at a new high of 9 771.05 points. Similarly the Sensex closed at a fresh high of 31 715.64 points -- up 355.01 points or 1.13 per cent.
"Markets rose on Tuesday to touch new life highs before correcting in the last one hour of trade. The Nifty ended with modest gains despite positive global cues " Deepak Jasani Head of Retail Research HDFC Securities told IANS.
"Major Asian markets have ended on a positive note barring the Shanghai and Straits indices. European indices like CAC 40 and FTSE 100 traded lower."
On the currency front the rupee weakened by six paise to 64.59 to a US dollar from its previous close of 64.53 to a greenback.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) bought stocks worth Rs 182.05 crore while domestic institutional investors (DIIs) invested Rs 335.75 crore.
"Sectors like IT telecom auto bank capital goods ended in the green whereas consumer durables ended in the red " said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
"IndusInd Bank s Q1 profit surpassed estimates it was up 26 per cent but asset quality deteriorated further."
Sector-wise the S&P BSE automobile index gained 192.07 points the IT index by 91.78 points and the capital goods index by 49.01 points.
On the other hand consumer durables index declined by 112.08 banking index by 110.57 points and healthcare index by 94.04 points.
Major Sensex gainers on Tuesday were: Bajaj Auto up 2.34 per cent at Rs 2 793.40; Tata Motors up 2.28 per cent at Rs 456.95; NTPC up 1.81 per cent at Rs 163.05; Infosys up 1.75 per cent at Rs 975.80; and Mahindra and Mahindra (M&M) up 1.64 per cent at Rs 1 390.15.
Major Sensex losers were: Bharti Airtel down 2.45 per cent at Rs 395.45; Cipla down 2.06 per cent at Rs 538.15 Wipro down 1.92 per cent at Rs 263.35 Coal India down 1.85 per cent at Rs 254.40 and ONGC down 1.54 per cent at Rs 160.30.
--IANS
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