Sensex on a two-week high on higher advance tax payout hopes

A benchmark index for Indian markets rose to a two-week high Tuesday, closing 225 points higher as traders were enthused by indications of higher advance tax payments by corporates suggesting improved earnings. Cues from global bourses too were positive.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,680.23 points, closed at 17,813.62, up 225.95 points or 1.28 percent compared to its previous close at 17,587.67 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed in the positive at 5,429.5 points, up 69.95 points or 1.31 percent from its previous close.

Broader markets closed in the green too with the BSE 500 index ending 1.23 percent higher. The BSE midcap index ended 1.21 percent higher while the BSE smallcap index moved up 1.03 percent.

Metals, oil and gas and realty stocks were the major gainers at this time. All 13 sectoral indices on the BSE closed in the green.

The market breadth was positive with 1,712 stocks advancing, 1,215 declining and 129 remaining unchanged.

Gainers on the Sensex included ONGC, up 3.42 percent at Rs.287.50; RIL, up 2.72 percent at Rs.818.65; Tata Steel, up 2.45 percent at Rs.467.15 and Maruti Suzuki, up 2.27 percent at Rs.1,367.90.

Major losers included Wipro, down 1.29 percent at Rs.431.50; M&M, down 1 percent at Rs.656.90 and Bajaj Auto, down 0.43 percent at Rs.1,781.35.

Asian markets were trading higher with investors expecting the final go-ahead for Greece’s second bailout soon. They also had their eyes on key central bank meetings in Japan and the United States.

The Japanese Nikkei closed flat at 9,899.08 points, while Hong Kong’s index moved up 0.97 percent at 21,339.70 points.

The Chinese Shanghai Composite index closed 0.86 percent higher at 2,455.79 points.

European markets were also in the green.

Britain’s FTSE 100 was trading 0.92 percent higher at 5,946.67 points, while the German DAX was trading 1.03 percent up at 6,972.36 points.

The French CAC 40 was ruling 1.09 percent up at 3,528.04 points.