Good set of Q2 earnings, bank stocks lift Sensex; Asian Paints surges

Mutual fund SEBI

Market breadth was negative with 1,413 advances against 1,157 declines.

The 30-scrip Sensitive Index (Sensex) provisionally closed 117 points or 0.36 per cent higher.

The Sensex of the BSE, which opened at 32,619.26 points, traded at 32,587.32 points (at 1.30 p.m.), higher by 80.60 points or 0.25 per cent from Monday's close at 32,506.72 points.

The 30-share Sensex resumed higher at 32,411.86 and hovered in a range of 32,614.89 and 32,393.33 before quoting 32,439.12 at 1100 hours, a rise of 49.16 points or 0.15 per cent.

Besides, positive cues from Asian markets with the Japan's Nikkei posting the longest winning-streak in its almost 70-year history as markets cheered the weekend election victory of Japan's pro-business prime minister, had positive impact, they said.

"Markets ended with modest gains on Tuesday after bouncing back from Nifty lows of 10182".

"Technically, with the Nifty bouncing back after the recent weakness, the bulls seem to be making a comeback".

Indian shares rose for a second session on Tuesday, led by state-owned lenders after HDFC Bank posted a 20 percent jump in quarterly profit.

Domestic institutional investors (DIIs) bought shares worth a net Rs 307.84 crore, as per provisional data.

On the other hand, the S&P BSE IT index fell by 79.74 points, consumer durables index by 57.58 points and automobile index by 49.61 points.

Among Nifty50 stocks, ONGC, Vedanta, NTPC, Bharti Infratel, Yes Bank, Tata Steel, IOC and GAIL India were the prominent gainers - up between 1.3 per cent and 2.7 per cent. Infosys shares gained as much as 0.8 per cent to Rs 946.65, ahead of its earnings announcement for the July-September quarter later in the day.

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