Mkts give thumbs up to credit policy

Mumbai: The markets had a steady session on Tuesday digesting the 25 bps hike in repo and reverse repo rate, which was in line with the market expectations.

It was the second straight session of gain for the markets and it was once again led by the banking stocks.

The Sensex closed with handsome gains of 200.24 at 10,415.61 and the Nifty gained 54.65 points or 1.83 per cent at 3040.5 in tandem with its Asian peers.

Asian markets closed very strong and the European markets have also opened in the green.

Apart from banking there was good upmove in the cement stocks with above street expectations results by Ultratech.

The BSE Small Cap Index closed at 4,854.16, up 96 points.

The BSE Midcap Index ended at 4,095.38, up 83 points.

About 1613 shares have advanced, 734 shares declined, and 76 shares are unchanged.

All the BSE sectoral indices closed in the green. Banking stocks lead the rally followed by cement and capital good stocks.

The BSE Bankex was up 4.12 per cent at 4,569.30. Union Bank, UTI Bank, Oriental Bank, ICICI Bank, HDFC Bank, PNB, Canara Bank and Bank of Baroda were among the gainers.

The BSE Capital Goods Index was up 2.5 per cent at 6,556.44. Gammon India, Lakshmi Machine, Crompton Greave, Bharat Elec and Carborundum closed higher.

The BSE Consumer Durables Index gained 2.34 per cent at 2,574.24. Su-Raj Diamonds, Samtel Color, Titan Industries and BPL were up.

The BSE Metal Index advanced by 2 per cent at 7,691.66. SAIL, Tata Steel, Sterlite Ind, Guj NRE Coke, Hindalco witnessed buying interest.

The BSE Oil and Gas Index rose 2.1 per cent at 4,991.39. MRPL, GAIL, Chennai Petro, IOC, Petronet LNG advanced higher.

The BSE Health Care Index was up by 1.75 per cent at 3,103.43. Cipla, Dr Reddys Labs, Divis Labs, Apollo Hospital and Nicholas Piramal were among the major gainers.

The BSE Auto Index added 1.5 per cent at 4,275.37. Ashok Leyland, Escorts, Cummins, Tube Investment and Tata Motors closed in positive terrain.

The BSE IT Index was up by 0.8 per cent at 3,837.97 moved up. Satyam, Mphasis BFL, TCS and Infosys jumped.

The BSE FMCG Index was up 0.7 per cent at 1,856.48. P&G, HLL, Shaw Wallace, Colgate and Dabur India closed in green.

The NSE cash turnover was at Rs 5421.16 crore and the NSE F&O turnover was at Rs 27418.75 crore.

The BSE cash turnover was Rs 2607.46 crore. Total market wide turnover was at Rs 3,5447.37 crore.