Sensex rises 673 points, Nifty above 17,800; NTPC,

Overall market breadth remained positive as 1,892 stocks advanced while 1,492 declined on BSE.

New Delhi: Indian equity benchmarks continued to rise on Tuesday led by gains in banking and financial stocks. The 30-share BSE Sensex ended up 673 points or 1.14 per cent at 59,856, while the broader NSE Nifty ended 180 points or 1.02 per cent higher at 17,805. The BSE index rose over 750 points to hit a high of 59,937 from its previous close.

Helped by the ongoing rally, the market capitalization of BSE-listed companies rose by Rs 5.41 lakh crore to Rs 2,71,41,356.34 in just two trading sessions.

Mid- and small-cap stocks rose up by 0.27 per cent in the Nifty Midcap 100 index and 0.32 per cent in the Nifty Smallcap 100 index.

Of the 15 sector gauges, 11 – compiled by the National Stock Exchange – settled in the green. Nifty Bank, Nifty PSU Bank, Nifty Financial Services and Nifty Auto jumped up to 1.24 per cent.

“Indian equity benchmarks continued the rally led by energy and banking sector stocks. Sentiments will remain positive despite rise in unemployment rate as most Asian markets are trading in the green. Our research shows that 59,400 ( Sensex) may act as a key level. Market to remain positive. If market sustains level of 59,400, we can expect trade to range up to 60,000,” said research by Capitalvia Global Research Ltd. Chief Gaurav Garg told NDTV.

India’s unemployment rate hit a four-month high in December, data from the Center for Monitoring Indian Economy (CMIE) showed.

On the stock-specific front, NTPC was the top gainer in Nifty as the stock rose 5.16 per cent to Rs 132.50.

ONGC, SBI, PowerGrid and Titan also saw gains.

Private lender Yes Bank jumped 3.56 per cent after reporting an increase in net advances and deposits in the December quarter.

On the flipside, Tata Motors, Coal India, Sun Pharma, Tata Consumer Products and Shree Cement fell up to 1.66 per cent.

NTPC, SBI, PowerGrid, Titan, Reliance Industries and Bajaj Finane were the top gainers on the BSE index and their shares rose 5.56 per cent.

Overall market breadth remained positive as 1,892 stocks advanced while 1,492 declined on BSE.

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