Sensex Adds 235 Points, Nifty Above 15,760
The BSE Sensex edged higher by 235.39 points at 52,608.08, while the Nifty-50 index added 73.90 points at 15,766.50 in the morning trade. The gap-up opening was backed by firm movement in the foreign markets and gains in the Banking, Auto, and Metal names.
In the 30-share pack Sensex, 28 stocks saw buying interest while only two stocks declined at the market opening on Tuesday, July 13. Shares of NTPC climbed over three per cent, while those of ICICI Bank, HDFC, and Power Grid Corp added over a per cent each.
However, experts were of a view that the markets after opening firm, couldn't sustain at upper levels as there is a lack of buying interest and participants are looking forward to booking profits at every bounce in the market which is keeping the overall sentiment muted.
On the other hand, the statistics on the inflation for June are likely to create a good appetite for investors as it will provide some room for the central bank to maintain its accommodative stance further.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "The news from the inflation front is positive with June CPI coming at 6.26 per cent against an expectation of 6.5 per cent. This gives room for the RBI to continue on the accommodative mode further strengthening the bulls."
Tracking the sectors in the morning trade, all major sectors were trading green with the Banks, Metals, and Realty being the top performers. Shares of Sunteck Realty and Mahindra Life were the top gainers in the Realty space, advancing 5-6 per cent each.
In the overall market performance, 1224 shares advanced, while 467 shares declined in the NSE at the time of filing.
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