The Indian market indices ended the day up 0.7 per cent on Tuesday breaking the five-day losing streak.
The market had declined by about 4 per cent in the last five sessions. The NSE Nifty, on Tuesday, was up 35 points to close at 4,942. The BSE Sensex ended the day at 16,328, up 112 points from its previous close.
“Initial buying was seen in capital goods stock L&T, as sentiments improved for the counter on better-than-expected Q4FY12 results declaration yesterday. Buying was also seen in IT stocks as value buying emerged after the recent fall. Momentum increased as the session progressed,” said Ms Shanu Goel, Senior Research Analyst, Bonanza Portfolio. The scrip of L&T was up 5.4 per cent on Tuesday and the capital goods sector was the best performing sector on the BSE (up 3 per cent).
Among the Sensex stocks, Sun Pharma, Sterlite Industries, Infosys and Hero MotoCorp were the top four gainers after L&T. The top five laggards were NTPC, Maruti, ITC, Bharti Airtel and GAIL.
The rupee is currently trading at Rs. 53.79 to the dollar.