Market
Mumbai - India's main stock market index, the BSE Sensex rallied for the fifth day in a row, closing 0.87 percent or 145.13 points higher on Tuesday, on the back of handsome gains logged by technology, finance and FMCG stocks.
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The market began trading on a subdued note, opening lower at 16,650.05 but turned bullish on hopes of strong quarterly earnings and abundant fund inflows. The benchmark finally settled at 16,886.43, its best close in nearly 16 months, with twenty-four components rising.
The winners' pack was led by India's biggest mortgage lender HDFC, which jumped 5.30 percent. HDFC Bank, State Bank of India and ICICI Bank surged 1.50 percent, 1.41 percent and 0.96 percent respectively.
Technology outsourcers TCS, Infosys Technologies and Wipro soared 2.92 percent, 1.77 percent and 1.28 percent respectively on hopes that the worst may be over for most developed economies, which are the major markets for these companies.
Auto stocks also fared well with Tata Motors, Maruti Suzuki, Hero Honda Motor and Mahindra & Mahindra climbing 2.60 percent, 1.12 percent, 0.86 percent and 0.37 percent respectively.
FMCG majors ITC and Hindustan Unilever advanced 2.59 percent and 1.28 percent respectively.
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