Stock market in India bounced back on Tuesday tracking positive cues from the international equity markets. After opening with a gap up, markets surged throughout the day led by all round buying witnessed in scrips across the sectors.
All the S&P BSE sectoral indices ended in the green, the interest rate sensitive stocks like realty, Banking and Auto were among the top gainers, followed by Oil & Gas and the IT stocks. Even the S&P BSE Mid-Cap index and S&P BSE Small-Cap index rose by 1.6% and 1.1% respectively.
The Metals stocks were in demand after China announced that it has maintained its economic-growth target at 7.5% for 2013, while setting a lower inflation goal of 3.5%.
Sterlite gained 5%, Hindalco gained 5% and Tata Steel was up 2.8%.
Shares of Airline companies surged higher after Aviation regulator notified new FDI norms. Kingfisher stock surged higher by ~5%, while Jet Airways gained by 2.5% and Spicejet stock was also up 1%.
Shares of Godrej Properties gained by 2.7% today after the company announced the launch of its landmark commercial development, Godrej BKC. At 1.3 million square feet, this is one of the largest real estate development projects launched in the city. The construction of Godrej BKC has commenced and the project is expected to be complete in 2015.
Finally, BSE Sensex closed at 19143, up 265 points over the previous close. It had earlier touched a day's high of 19164 and a day's low of 18943. It opened at 18943.
The NSE Nifty closed at 5,784, up 86 points over the previous close. It earlier touched a day’s high of 5,790 and a day’s low of 5722. It opened at 5,722.
RIL, Infosys, Wipro, TCS, SBI, ICICI Bank, Tata Steel, Sun Pharma, HDFC Bank, Gail India, M&M , Dr Reddys Lab, Coal India, NTPC, Tata Power, ONGC, Hero MotoCorp were among gainers in Sensex and Nifty.
Bajaj Auto, BHEL, ITC, HDFC were among losers in Sensex and Nifty.
The advance decline ratio was in favour of the bulls. 1680 stocks advanced against 1141 declining stocks, while 112 stocks remained unchanged.
The INDIA VIX down 2% at 13.39. It hit a day’s high of 13.74 and day's low of 13.22.
Stocks which hit 52-week high during the week were Blue Blend India, Rutron Intl, Sam Leaseco, Turbotech Engr and Grandma Trad.
Stocks which hit 52-week low during the week were Ambalal Sarabhai, Apple Finance, Autolite India, Chambal Fert and Ballarpur Inds.
Most Asian markets rebounded on Tuesday tracking overnight gains in the US markets. The Nikkei index in Japan extended gains on hopes for further monetary easing under a new central bank chief. The Nikkei index gained 0.3%.
The Shanghai Composite index in China rebounded strongly as the National People’s Congress — the country’s parliament — began its annual session. However, property developers fell further under the lingering influence of fresh restrictions imposed on the sector late last week. The rebound came as outgoing Premier Wen Jiabao kicked off the annual session of the NPC by announcing an economic growth target of 7.5% for 2013, in line with expectations.
Among the other gainers were, the Hang Seng index in Hong Kong edged higher by 0.10%, Straits Times index was up 0.3%, Kospi index was up 0.2% and Taiwan index gained 0.9%.
The European market was trading higher on Tuesday after the final reading of the euro-zone composite purchasing-managers' index, for February was revised up from a preliminary estimate.
The FTSE index in UK was up 0.8%, CAC index in France was up 1.5% and the DAX index in Germany rose by 1.65%.