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The Sensex and the Nifty ended higher by nearly 0.2 per cent on fresh buying by funds and retail investors in select stocks buoyed by encouraging corporate earnings. Besides, progress of monsoon also influenced the trading sentiment here.
The 30-share BSE index Sensex ended at 25,715.17, up 73.61 points and the 50-share NSE index Nifty ended at 7,684.20, up 20.3 points.
Among BSE sectoral indices, FMCG, oil & gas and consumer durables indices remained investors' favourite and were up 1.11 per cent, 0.55 per cent and 0.28 per cent, respectively. On the other hand, capital goods, realty and power indices fell the most by 1.01 per cent, 0.97 per cent and 0.81 per cent, respectively.
HDFC, RIL, ITC, Axis Bank and HUL were the major Sensex gainers, while the major losers were Tata Power, GAIL, SBI, BHEL and SSLT.
Meanwhile, the Asian Development Bank has pegged India’s economic growth at 5.5 per cent. In its development outlook 2014, it said “With parliamentary elections over, India is expected to pursue long-delayed reforms. India’s growth forecast is maintained at 5.5 per cent in fiscal year 2014 but upgraded to 6.3 per cent in FY2015 as expected reform bears fruit. With this improved outlook for the largest economy in South Asia, expansion in the sub-region is expected to reach 5.4 per cent in 2014 and pick up to 6.1 per cent in 2015.”
European stocks fell and Russian equities declined for a sixth day amid mounting international condemnation of President Vladimir Putin after the downing of a passenger jet in Ukraine.
The Stoxx Europe 600 Index fell 0.4 per cent by 10.05 a.m. in London. Futures on the Standard & Poor’s 500 Index (SPX) was down 0.2 per cent.
Asian stocks were up as better US earnings offset the downing of a passenger jet in Ukraine and Israel’s invasion of Gaza.
US companies ranging from Apple Inc to McDonald's Corp, Coca-Cola Co and Caterpillar Inc are due to publish their results this week.
According to Thomson Reuters data, 82 companies in the S&P 500 that had reported earnings, 68 per cent beat Wall Street's expectations, roughly in line with the 67 per cent rate for the past four quarters and above the 63 per cent rate since 1994.
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