Sensex gaines 218 pts on strong advance tax figures
The Bombay Stock Exchange benchmark index, Sensex climbed over 218 points on Tuesday to 17383.18 as advance tax figures were greeted with a good note by the investors. The broad-based NSE Nifty gained 69 points to close at 5,198.10.
The Sensex witnessed 25 of its 30 stocks close in green, while 11 out of 13 sector indices ended the day with a positive note. Mukesh Ambani-led Reliance Industries rallied 3.8 per cent during the day's trade as it alone added close to 90 points to the sensitive index. Tata Steel, Sun Pharma, L&T and Mahindra &Mahindra emerged as the other top gainers among the large caps. Tata Steel rose 2.82 per cent.
Among the sector indices BSE Oil and Gas remained one of the major performers after crude prices took a dip at the global markets. The index climbed 2.65 per cent. RNRL led the show as it gained an eye catching 3.91 per cent.
Advance tax payments, which also give some indication about the companies' annual performance, portrayed a better than expected result from India Inc for the current fiscal. While Reliance Industries paid Rs. 770 crore, more than double of what it paid as advance taxes last year, other industry heavyweights also showed similar trend boosting investors' confidence.