Stocks Continue Momentum, L&T biggest drag in a week

Stock markets indices extended its rally for the 7th consecutive trading session on Tuesday, amid heavy buying in banks, IT and energy counters.

The BSE sensitive index (Sensex) gained 268.40 points to close at 38,363.47 while the Nifty50 of the NSE also gained 70.20 points to settle at 11,532.40

HCL Tech, Bharti Infratel, Infosys, Reliance and ITC were among the major gainers on the NSE. On the flip side, Eicher Motors, Hero MotoCorp, JSW Steel, Larsen and Toubro (L&T) and Maruti Suzuki lost the most. L&T was the top drag on the index, falling 1.37% to its lowest in a week.

All sectoral indices spaces ended in the green barring Nifty auto and metal indices. The Nifty PSU Bank index closed up 1.87% at 3176.3 with the leading constituents viz. Bank of India (up 5.84%), Union Bank of India gained (up 4.66%) and PNB up 4.44%.

Nifty Energy index rose 1.60% to 16,593.90 on the day led by Reliance, NTPC, and HPL.

With a positive market breadth on the NSE, there were 924 shares advances against 827 share declines, and 338 stocks unchanged.