STOCK MARKET BSE NSE

Sensex Snaps Two Sessions of Fall as Oil Recovers

The Nifty rose 1.36 percent to 7,962.35, while the Sensex gained 1.18 percent to 25,982.88.

Published: 26th April 2016 02:21 PM  |   Last Updated: 26th April 2016 02:21 PM   |  A+A-

India's stock markets rose more than 1 percent on Tuesday, in their first gain in three sessions, as earnings lifted a few firms such as Maruti Suzuki India Ltd, while the sentiment was also supported by gains in European shares and a mild recovery in crude prices.

Oil prices, seen as a barometer of broader market sentiment, recouped some of its losses, while European shares advanced after companies reported encouraging results, including oil major BP.

The broader NSE Nifty rose 1.36 percent to 7,962.35 by 0807 GMT, while the BSE Sensex gained 1.18 percent to 25,982.88.

Underlying sentiment back home remained supportive after a decent corporate earnings results.

India's biggest automaker Maruti Suzuki rose 4 percent after their fall in earnings was not as poor as feared.

Broader gains were constrained by caution ahead of central bank policy meetings in the United States and Japan this week.

"Results in general have been supportive of the market so that has established a good fundamental base for the markets," said Sandip Sabharwal, fund manager, asksandipsabharwal.com.

"There is a bit of nervousness ahead of the policy meetings, but overall global cues have remain supportive as indicated by the fund flows," he added.

Miner Hindalco Industries jumped 4.52 percent after Australian firm Metal X said it conditionally intends to raise offer for Hindalco's subsidiary Aditya Birla Minerals.

Among the losers, tobacco company Godfrey Phillips India Ltd declined 15 percent on report that India is examining a proposal to fully ban FDI in the tobacco sector.

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