Sensex at 2-week high; up 226 pts

The sensex gained amid indications of higher advance tax payout by corporates.

Written by Agencies | Mumbai | Published: March 13, 2012 5:32:25 pm

The BSE benchmark Sensex today climbed to 2-week high by adding 226 points amid indications of higher advance tax payout by corporates,suggesting improved earnings,and a firm trend in global markets.

The Sensex,which gained 442 points in the last two sessions,gained another 225.95 points,or 1.28 per cent,to close at 17,813.62,close to February 24 level.

The broad-based National Stock Exchange index Nifty today regained the 5,400 mark by rising 69.95 points,or 1.31 per cent to 5,429.50.

Brokers said market players were optimistic that reports of higher advanced tax payments by corporate indicate improved outlook for fourth quarter earnings. On Friday,the Reserve Bank had cut cash reserve ratio (CRR) for banks so as to infuse Rs 48,000 crore in the financial system to overcome the liquidity crunch.

Globally,stock markets were up on easing of debt crisis in Greece.

Reliance Industries,Infosys,ONGC,Tata Steel and banking stocks lifted the buying sentiment,they said.

In the 30-scrip BSE index,25 closed with gains. All the 13 sectoral indices gained up to 3 per cent.

Of top Sensex heavyweights,Reliance Industries shot up 2.72 per cent,while Infosys gained 1.51 per cent.

The metal sector index gained 3.01 per cent at 11,953.73,followed by oil and gas – 2.60 per cent to 8,658.43. Power index rose 1.52 per cent to 2,266.34.

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