Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
The benchmark BSE Sensex recovered by almost 57 points in early trade on Tuesday on the back of gains in FMCG, capital goods, PSU, power, auto and IT sector stocks amid positive Asian cues.
After falling 130.25 points in the previous session on profit-booking, the 30-share Sensex was trading in positive zone with a gain of 56.92 points, or 0.19 per cent, to 29,575.66.
Also, the broader NSE Nifty rose by 18.05 points, or 0.19 per cent, to quote at 9,144.90.
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Brokers said resumption of buying by investors coupled with continued inflow of foreign funds and a firm trend in other Asian bourses, helped indices to trade in positive terrain.
Bucking the trend, shares of Divi's Lab plunged nearly 20 per cent to Rs 635 following reports of US Food and Drug Administration (USFDA) issuing an import alert for its Visakhapatnam Unit.
Among other Asian markets, Hong Kong's Hang Seng rose by 0.27 per cent while Shanghai Composite Index gained 0.22 per cent in early trade today. Seoul jumped more than one per cent while Singapore put on 0.1 per cent. Japan's Nikkei, however, was trading 0.31 per cent down.
The US Dow Jones Industrial Average ended 0.04 per cent lower in yesterday's trade.
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