Mumbai: Tracking firm global cues, the BSE benchmark Sensex on Tuesday rose by nearly 115 points led by bluechips, including HDFC Bank and Sun Pharma, in step with a smart recovery in rupee. (Agencies)
Stock markets mirrored the currency's movement which bounced back from a record low of 61.21 after Sebi and Reserve Bank announced a slew of measures to curb speculative trade in currency derivatives, brokers said.
The 30-share index started the day's trade on a firm note at 19,446.30 and rose further to close 114.71 points, or 0.59 percent higher at 19,439.48. Sensex had lost 171.05 points on Monday.
Profit booking at Monday's low levels also boosted shares on the index, they added. The market remained bullish ahead of a meeting to be chaired by Prime Minister Manmohan Singh, where some major decisions to boost the manufacturing sector were expected.
Similarly, the wide-based National Stock Exchange index Nifty gained 47.45 points, or 0.82 percent, to close at 5,859.00. Also, SX40 index, the flagship index of MCX-SX, closed 62.75 points, or 0.54 percent higher at 11,598.19.
Also, a firming trend in the global markets on cheerful beginning of earning quarter in the US further supported the market sentiment, brokers said. Out of the 30 BSE index components, 22 stocks ended with gains led by Sun Pharma rising 3.57 percent to Rs 1,079.95.
Market heavyweights Reliance Industries and Infosys rose by 0.58 percent to Rs 873.35 and 0.97 percent to Rs 2,495.70. After falling heavily on Monday, banking stocks recovered sharply as rupee rose to 60.12 against the dollar intraday on Tuesday. Among the major gainers, HDFC Bank rose by 1.27 percent to Rs 668.75 and ICICI Bank by 0.66 percent to Rs 1,034.70.
Sectorally, the consumer durable sector index gained the most by 1.93 percent to 6,276.96, followed by power index by 1.86 percent to 1,644.48.
Mumbai: Tracking firm global cues, the BSE benchmark Sensex on Tuesday rose by nearly 115 points led by bluechips, including HDFC Bank and Sun Pharma, in step with a smart recovery in rupee.