Equity benchmark indices witnessed a strong momentum on Tuesday with realty and banking stocks making a comeback. The BSE S&P Sensex closed 478 points or 1.26% higher at 38,528 while the Nifty 50 gained by 138 points or 1.23% at 11,385.
Except for Nifty pharma which dipped marginally, all sectoral indices at the National Stock Exchange were in the green with Nifty realty gaining by 4%, private bank by 2.2% financial service by 1.9% and auto by 0.9%.
Among stocks, realty major DLF ticked up by 6.7% to close at Rs 157.05 per share on reports of improvement in consumer sentiment. Suntech Realty gained by 7.5% while Godrej Properties was up by 2.2%.
Banking majors Kotak Mahindra Bank, ICICI Bank and HDFC Bank advanced by 3%, 2.5% and 2.3% respectively.
Index heavyweight Reliance Industries too lifted the market sentiment by advancing 1.3% at Rs 2,118.75 per share. Grasim was up by 6.5%, JSW Steel by 3.2% and Titan by 2.1%.
However, Bharat Petroleum Corporation, Tech Mahindra, HCL Technologies, Cipla and Sun Pharma traded with a negative bias. Meanwhile, Asian stocks were mixed as US-China tensions weighed on optimism generated by Wall Street`s tech-driven rally.
The Trump administration said a day earlier that it will further tighten restrictions on China`s Huawei Technologies, aimed at cracking down on its access to commercially available chips.
Japan`s Nikkei dipped by 0.2% while South Korea`s Kospi fell by 2.46%. Hong Kong`s Hang Seng crawled up by a meagre 0.08%.
