Domestic bourses closed higher for the third consecutive trading session on Tuesday, led by buying in giants ITC, Reliance Industries and Infosys, amid a subdued trend in global markets. According to traders, strong macro-economic data also helped strengthen the positive sentiment in the market.
BSE’s 30-share index Sensex closed up 152.12 points, or 0.23 per cent, at 65,780.26 points. At one point during trading, it jumped 203.56 points to 65,831.70 points.
The National Stock Exchange (NSE) index Nifty also closed up 46.10 points or 0.24 percent at 19,574.90 points.
Among the Sensex companies, Sun Pharma managed to gain the highest gain of 2.09 percent. Apart from this, ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank also closed higher.
On the other hand, Ultratech Cement, Maruti Suzuki, HDFC Bank, Wipro, State Bank of India and NTPC are behind.
In other Asian markets, Japan’s Nikkei, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.
European markets were trading mixed in early trade. US markets were closed on Monday in observance of Labor Day.
According to analysts, positive data at the domestic level has strengthened the market sentiment. A survey report has come out that there has been an increase in manufacturing activities in India in August. Earlier, Goods and Services Tax (GST) collection increased by 11 percent to Rs. 1.59 lakh crore and the monthly figures of vehicle sales reaching record levels has strengthened the market.
Meanwhile, international oil benchmark Brent crude fell 0.62 percent to $88.45 a barrel.
Foreign Institutional Investors (FIIs) have withdrawn capital amid a bullish market environment. According to information from the stock markets, FIIs on Monday invested Rs. 3,367.67 crore worth of shares were sold.