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Markets zoom amid foreign fund inflows, global cues

Despite RIL show, indices end lower as bank stocks weigh
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Despite RIL show, indices end lower as bank stocks weigh

Highlights

Sensex rallies 478 pts to close at 38,528pts ; Nifty tops 11,350

Mumbai: Equity benchmark Sensex rallied 478 points on Tuesday, driven by gains in index majors Reliance Industries, HDFC Bank and ICICI Bank amid positive cues from global markets and sustained foreign fund inflows.

The BSE Sensex ended 477.54 points or 1.26 per cent higher at 38,528.32, while the NSE Nifty surged 138.25 points or 1.23 per cent to 11,385.35. In the broader market, BSE Midcap and Smallcap indices gained up to 1.30 per cent.

UltraTech Cement was the top gainer in the Sensex pack, rising over 3 per cent, followed by Kotak Bank, ICICI Bank, Asian Paints and Tata Steel. Reliance Industries and HDFC Bank added most to the gains on the index. On the other hand, Tech Mahindra, HCL Tech, Bajaj Auto and Power Grid were among the laggards.

"US-China political tensions and the uncertainties over the US stimulus package kept global markets on edge," said Vinod Nair, head of research at Geojit Financial Services.

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