Sensex and Nifty close high as Asian stocks rally
Dr Reddy’s, Sun Pharma and Bharti Airtel were among the top gainers on both indices.
The benchmark Bombay Stock Exchange Sensex ended 118.45 points higher at 33,478.35, and the National Stock Exchange Nifty closed 28.15 points up at 10,326.90 on Tuesday. The Indian indices rallied as Asian stocks rose to a 10-year high, and continued buying by domestic institutional investors boosted market sentiment.
The top five gainers on the Sensex were Dr Reddy’s, Sun Pharma, Cipla, Bharti Airtel and Bajaj Auto. The major losers on the BSE index were Coal India, PowerGrid, Tata Consultancy Services, ITC and Kotak Mahindra Bank.
On the national exchange, the top gainers were Dr Reddy’s, Sun Pharma, Tech Mahindra, UPL and Bharti Airtel. The major losers were Indiabulls Housing and Finance, Coal India, ITC, PowerGrid and Tata Consultancy Services.
Indian shares rose for the fourth consecutive session on Tuesday, boosted by Reliance Industries Ltd – Goldman Sachs raised its target price on the stock by 26% to Rs 1,205 and gave it a “buy” rating, Reuters reported.
Other Asian markets were traded higher on Tuesday after strong German economic data boosted sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.8%.
The rupee on Tuesday strengthened against the US dollar. It opened at 65.11 a dollar and touched a high of 64.91. At 3.55 pm, the home currency was trading at 64.94 against the greenback, up 0.26% from its Friday’s close of 65.10.