Sensex surges 477 points on FII buying; Nifty nears 11,400 mark

Domestic equity benchmark Sensex jumped 477 points on Tuesday tracking gains in index-heavyweights UltraCemco, Reliance Industries, ICICI Bank. Tata Steel and HDFC Bank on sustained foreign fund inflow amid positive cues from global markets.

European markets such as FTSE 100, CAC 40 and Dax were trading higher now.

The BSE Sensex ended 477.54 points or 1.26 per cent higher at 38,528.32, while NSE Nifty was up 143.05 points or 1.27 per cent at 11,390.15.

Realty stocks on solid ground

Amongst sectoral indices, the BSE Realty and BSE Bankex were the notable gainers. The BSE Realty rose 68.95 points or 4.19% to 1,714.65 and the BSE Bankex jumped 531.56 points, or 2.16%, to 25,190.51.

Prominent gainers in realty were Sobha, SunTeck, IB Real Estate, DLF stocks gaining up to 8 per cent on large volumes.

In the banking space, Kotak Bank, ICICI Bank, HDFC Bank, Axis Bank and IndusInd Bank achieved gains up to 3 per cent.

According to traders, buying in index-heavyweights led benchmarks higher amid sustained foreign fund inflow.

UltraCemCo was the top gainer in the Sensex pack, rising around 3.50 per cent, followed by Kotak Bank, ICICI Bank, Asian Paint, Tata Steel, M&M, Infosys, Titan, Bajaj Finance and Maruti.

However, top losers were Tech Mahindra, HCL Tech, PowerGrid, Bajaj Auto and Sun Pharma falling up to 1 per cent.

Exchange data showed that foreign institutional investors bought equities worth Rs 332.90 crore on a net basis on Monday.

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