The Bombay Stock Exchange Sensex rose over 100 points on Tuesday to close at 32,607.34, while the National Stock Exchange Nifty 50 also climbed more than 22 points to end the day at 10,207.70. The markets surged ahead of quarterly earnings from some blue chip companies and positive trends in the Asian market.
The stocks of Asian Paints rose nearly 4.7% on both Sensex and the Nifty after the company said its consolidated net profit rose 8% year-on-year to Rs 508.42 crore for the September quarter. Asian Paints reported a consolidated net profit of Rs 508.42 crore against the Rs 470.83 crore profit that the company made in the corresponding quarter in 2016.
Besides Asian Paints, the State Bank of India (+3.74%), NTPC (+2.92%) and the Oil and Natural Gas Corporation (+2.42%) were the top performers on the Sensex. The stocks of Tata Motors, Infosys, Lupin Ltd and Sun Pharma declined.
On the Nifty 50, Zee Entertainment Enterprises was the star performer, ending nearly 7% higher, followed by Asian Paints, the State Bank of India (+3.56%), NTPC (+2.74%) and Oil and Natural Gas Corporation (+2.59%). However, HCL Tech (-2.6%), Yes Bank (-2.11%), IndusInd Bank Limited (-1.85%) and Tata Motors (-1.63%) saw their shares decline.
Shares of road construction companies rose after the Centre reportedly approved the first phase of the Bharatmala road project – the biggest ever highway development plan.