Sensex, Nifty settle at 5-1/2 week high

Sensex, Nifty settle at 5-1/2 week high

Key benchmark indices on Tuesday advanced as European stocks edged higher and US index futures rose on easing tensions between Ukraine and Russia after Russian troops reportedly were ordered back to their bases.

So much so, the barometer index of the BSE reclaimed and  settled above the psychological 21,000 mark. In fact, the 30-scrip Sensex at BSE and the 50-unit CNX Nifty at NSE both settled at their highest level in 5-1/2 weeks.

The market breadth, indicating overall health of the market, was positive. Except for BSE IT index and the BSE Healthcare index, all the other sectoral indices on BSE were in the green.
The market sentiment was boosted by data showing that foreign funds were net buyers of Indian stocks on Monday as FIIs  bought shares worth a net Rs 204.30 crore, as per the data from the Securities & Exchange Board of India (Sebi).

In the day's trade, metal stocks rose across the board. GMR Infrastructure rose after a consortium led by the company has won construction package of rail line doubling between Jhansi and Bhimsen stations in Uttar Pradesh. IVRCL jumped after the company said that its irrigation division and water division have bagged orders worth an aggregate Rs 2632.85 crore.

Shares of Tata group companies were in demand on renewed buying. Cigarette major ITC gained 0.76 per cent to Rs 331.15. The BSE Sensex was up 263.08 points or 1.26 percent to 21,209.73, its highest closing level since January 23, 2014. The index rose 277.99 points at the day's high in late trade and dropped 6.26 points at the day's low in early trade.

The 50-unit CNX Nifty at NSE was up 76.50 points or 1.23 per cent to 6,297.95, its highest closing level since January 23, 2014.

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