The BSE Sensex marked its closure on a strong note on Tuesday (July 22) following hope that the UPA Government will win the trust vote of confidence.

If all goes fine, the early election will not happen in India and there will be some advancement in N-deal.

Heavy buying activity was seen in FMCG, Power, Metal and Banking stocks, while auto index was under selling pressure.

The 30-share Index, Sensex on Tuesday (July 23) opened on a flat note at 13,837.64, up 12.4 points. Afterwards, the index gained ground and touched the psychological mark of 14,000.

BSE Midcap and Smallcap index gained 1.69% and 1.53% respectively.

The major contributors in the upward rally were Reliance Infra, BHEL, ITC, Tata Steel, ACC, SBI and Hindalco.

Finally, the Sensex ended the day after making a gain of 254.16 points at 14,104.20 points, whereas the broad-based NSE Nifty ended the day at 4,240.10, up 80.6 points.

The overall market breadth was positive as it experienced 1,849 progressions as against 734 declinations.

Stock market analyst, Vishwas Agarwal said, “After winning confidence motion, nuclear deal and the other pending issues will be cleared, which was blocked due to Left party criticism.”

He said that the result will definitely help the financial system in both short as well as long term. Moreover, it will improve the confidence of the government to fight tribulations and give appropriate solutions to India’s growth story.

Mr. Agarwal added that he will not be amazed, if stock market touches upper circuit because of 10% increase in index as fall in crude rates is also a positive sentiment to rise from depression.

Technical analyst, Suresh Iyer said the stock specific action could be seen in the market on Tuesday (July 23), but general participation is expected to be less.

Nifty has support levels at 4,110, 4,072, 4,040, 3,999, and 3,919. Nifty has resistance at 4,215, 4,241, with stiff resistance at 4,264 and 4,315, he said.