HomeStrength in metals and select bluechip stocks pushed the key benchmark index to a 22-month closing high on Tuesday.
The Sensex rose 127 points to 17,686 and the Nifty advanced 0.8 per cent to 5,277.
Metal stocks rose sharply today, driven by higher global commodities prices. The BSE metal index soared 3.8 per cent. Nalco zoomed nearly 15 per cent to Rs 505 and JSW Steel gained 10.8 per cent.
Realty stocks also gained today. The realty index on the BSE rose 1.1 per cent. Kolte-Patil Developers surged 6.7 per cent and Parsvnath Developers closed up 5 per cent.
In the Sensex pack, Hindalco was the biggest gainer. The stock shot up 7.4 per cent to Rs 175. JP Associates rose 5.8 per cent and Sterlite Ind was up 4.5 per cent.
Maruti Suzuki, however, fell 2.2 per cent to finish at Rs 1,515. Tata Motors also dropped 2 per cent. ACC and NTPC also shed over 1 per cent each.
Asian stock markets gained more ground on Tuesday, following Wall Street’s advance as an upbeat US manufacturing report buoyed investor confidence in a global recovery. European shares slipped in early trade.
Most major Asian markets were higher for a second straight session, while the dollar fell against the yen and the euro. Crude oil prices closed in on $82 a barrel.
Tokyo’s Nikkei 225 stock average added 27.04 points, or 0.3 percent, to 10,681.83, its advance curtailed in the afternoon session on selling of exporters as the yen climbed again the dollar.
Hong Kong’s Hang Seng jumped 456.30, or 2.1 percent, to 22,279.58.
Elsewhere, Shanghai’s main stock measure climbed 1.2 percent to 3,282.18 after falling the day before. Australia’s market was up 1 percent, helped by stronger commodity prices.