Sensex gets back on feet, Nifty takes 9300 on buying push

Sensex gets back on feet, Nifty takes 9300 on buying push

Midcaps gained nearly a per cent, while metals and banks gained around half per cent.

Back home, 14 scrips in the 30-share Sensex pack ended higher, while the remaining 16 closed with losses.

The market breadth turned negative as 1,583 stocks closed in red, while 1,247 finished in green and 162 ruled steady.

So above 9370 maintain long-positions.

Mumbai: The benchmark Sensex today regained the 30,000-mark early on by surging over 76 points after investors built more bets and domestic financial institutions continued buying amid mixed Asian cues.

The stock markets in the United States have so far put in a mixed performance owing to the abrupt dismissal of the Federal Bureau of Investigation chief and other factors.

"We believe Hero MotoCorp is the best pick, with a likely revival in the rural economy, as approximately 50% of sales are in the rural markets", HDFC Securities said in a note.

More news: Defiant judge goes into hiding amid India's top court sentence

Indian shares rose on Tuesday after three consecutive sessions of falls as recent decliners such as IT stocks recovered, but overall sentiment was cautious ahead.

However, the point of worry was foreign portfolio investors (FPIs) who sold stocks worth Rs 363.98 crore, as per provisional data.

However, Bharti Airtel fell 2.21 percent, Gail 2.14 percent, ONGC 1.94 percent, HUL 1.78 percent, Axis Bank 1.69 percent, NTPC 1.39 percent, Coal India 1.20 percent, Power Grid 1.14 percent and Tata Motors 1.08 percent.

The 30-share barometer was trading higher by 159.62 points, or 0.53 per cent, at 30,092.87 with all sectoral indices led by FMCG, metal, consumer durables, oil & gas and power leading the rally. State Bank of India and Bank of Baroda climbed 0.8 per cent and 1 per cent, respectively. The index moved from 9,300 to 9,400 in 11 trading sessions. Overseas, Asian markets ended mixed, with Hong Kong's Hang Seng rising 0.51 per cent and Japan's Nikkei gaining 0.29 per cent.

Among the top gainers, Wipro, Axis Bank, Adani Ports, Larsen & Toubro and International Olympic Committee rose 1-3 percent. Shanghai Composite Index fell 0.03 per cent.

The shares of the mid-cap and small-caps showed good trade as indices of both were up, approximately to a percent each.

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