Markets log gains for third day on buying in Reliance, Infosys

Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Tuesday on gains in market heavyweights ITC, Reliance Industries and Infosys amid a bearish trend in global equities.

Besides, robust domestic macroeconomic data added to the positive momentum, traders said.

The BSE benchmark index climbed 152.12 points or 0.23 per cent to settle at 65,780.26. During the day, it gained 203.56 points or 0.31 per cent to 65,831.70.

The Nifty rose 46.10 points or 0.24 per cent to end at 19,574.90.

Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank.

UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.

In Asian markets, Tokyo settled in the green, while Seoul, Shanghai and Hong Kong ended in the negative territory.

European markets were trading on a mixed note in early deals. The US markets were closed on Monday.

According to a survey, manufacturing activities in India gained momentum in August.

Meanwhile, GST collections grew by 11 per cent to over Rs 1.59 lakh crore, and domestic passenger vehicle sales hit a record in August.

Global oil benchmark Brent crude declined 0.62 per cent to $88.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,367.67 crore on Monday, according to exchange data.

The BSE benchmark had climbed 240.98 points or 0.37 per cent to settle at 65,628.14 on Monday. The Nifty advanced 93.50 points or 0.48 per cent to close at 19,528.80.