Markets climb for third day on firm global cues

New Delhi: Equity benchmark indices Sensex and Nifty closed higher for the third session in a row Tuesday, following gains in telecom, tech and consumer durable shares amid a firm trend in the global markets.

After rallying over 400 points, the 30-share BSE Sensex ended 89.83 points or 0.12 per cent higher at 73,738.45. During the session, it jumped 411.27 points or 0.55 per cent to 74,059.89.

Trimming most of its early gains, the NSE Nifty ended 31.60 points or 0.14 per cent up at 22,368. During the day, it climbed 111.15 points or 0.49 per cent to 22,447.55.

Heavy selling pressure in index heavyweight Reliance Industries, mainly due to profit booking, dragged market indices lower. Reliance lost over one per cent to end at Rs 2,918.50 per scrip.

From the Sensex basket, Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints and State Bank of India were the major gainers.

Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra and Bajaj Finance were among the laggards.

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

European markets were trading with gains. Wall Street ended in positive territory on Monday.

Global oil benchmark Brent crude climbed 0.41 per cent to $87.36 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,915.23 crore Monday after a day’s breather, according to exchange data.

The BSE benchmark climbed 560.29 points or 0.77 per cent to settle at 73,648.62 Monday. The NSE Nifty went up by 189.40 points or 0.86 per cent to 22,336.40.