Markets end up 0.8% on global rally

Markets end up 0.8% on global rally

New Delhi: Markets extended its initial gains to close higher by 0.9% on Tuesday tracking US and rally in Asian rally.

The Bombay Stock Exchange benchmark Sensex opened 1% up along with firm Asian counter parts. But, stocks witnessed a bit of volatility and pared gains during early afternoon trade before regaining strength again.

From the sectoral front, IT, pharma, technology, oil & gas, consumer durables and bank stocks contributed to most of the buying. Only realty index ended in red after witnessing most of the selling.

The 30-share BSE Sensex closed higher by 159.91 points at 16852.91 and the 50-share NSE Nifty ended up by 47.90 points at 5,006.85.

Top gainers from the BSE Sensex pack are Sun Pharma up by 6.09% to Rs1,390.85, Tata Consultancy Services 3.98% to Rs610.40, ICICI Bank by 3.12% to Rs864.80, Wipro by 2.71% to Rs582.50, ONGC by 2.49% to Rs1,186.15, Infosys Technologies by 1.89% to Rs2,287.80 and Tata Power by 1.80% to Rs1,307.20.

Among the losers are State Bank of India by 2.26% to Rs2,090.85, Grasim Industries by 1.60% to Rs2,788.80, Jaiprakash Associates by 1.35% to Rs234.15, Reliance Communications Ltd by 0.60% to Rs299.75 and Tata Motors by 0.35% to Rs590.80.

Tata Consultancy Services rose 3.98% after the company secured a contract from Carnation Auto for providing end-to-end system integration services.

MindTree gained 4.20% after announcing that it has signed an agreement with Kyocera Wireless Corp. (KWC) to acquire Kyocera Wireless (India) Pvt. Ltd., its Indian subsidiary.

Larsen & Toubro also reported rise of 0.11% after company said that its unit got a multi million-dollar contract from Germany’’s Infineon Technologies AG.

On the global markets front, the Asian markets ended mostly higher as investors are bullish tracking cues from Wall Street. Japan’s Nikkei gained ended 0.9% higher and Hang Seng closed up by 2%.