Sensex rallies 268 points to end at 38,363 (file photo)
The benchmark BSE Sensex rose over 73 points in early trade on Tuesday, extending gains for the seventh session, driven by sustained foreign fund inflows and also ended 268 points upwards at 38,363.47. Besides, covering-up of short positions ahead of March series expiry in the derivatives segment scheduled for Wednesday as markets will remain closed on Thursday, also supported the rising trend, brokers said.
The NSE Nifty also advanced by 14.40 points, or 0.13 per cent, to 11,476.60 in the early session and ended with 70 points more at 11,532.40
Major gainers were Sun Pharma, ONGC, Bharti Airtel, SBI, ITC, Bajaj Finance, Reliance Industries, Infosys, Yes Bank, HDFC Bank, HCL Tech, HDFC, Coal India, IndusInd Bank, Kotak Bank and Asian Paints, rising up to 3.05 per cent.
Bucking the trend, Hero MotoCorp, Bajaj Auto, L&T, Maruti Suzuki, ICICI Bank, PowerGrid, M&M, Vedanta and Tata Steel were down up to 2.42 per cent.
The gains on domestic bourses were led by PSU, oil and gas, infrastructure, realty, banking and power sector stocks as investors indulged in widening their exposure.
Traders said widening of positions by retail investors amid continued buying by foreign institutional investors (FIIs) as expectations that the incumbent government would return to power after the general elections, starting next month, boosted investor confidence.
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Meanwhile, on a net basis, foreign institutional investors (FIIs) bought shares worth Rs 1,823 crore, while DIIs offloaded equities to the tune of Rs 1,269 crore Monday, provisional data showed.
Among other Asian markets, Japan's Nikkei was trading lower by 0.26 per cent, Hong Kong's Hang Seng fell 0.16 per cent and Shanghai Composite index was down 0.22 per cent in their early deals.
On Wall Street, the US Dow Jones Industrial Average ended 0.25 per cent higher in Monday's session.
(With inputs from PTI)