Sensex rallies 330 points; gives some respite from last week downfall

Mumbai, May 14 (UNI) Despite persistent selling by the Foreign Institutional Investors (FIIs), the stock market on Tuesday extended positive rally for the third consecutive session as the BSE Sensex surged 328.48 points to close strong at 73104.61 on positive global cues.

All indices ended in green amidst heavy weight shares including Reliance Industries, HDFC Bank, SBI, L&T, Maruti Suzuki among others ended higher from their previous close on the BSE.

Yesterday FIIs sold equities worth Rs 4,498 crore while the Domestic Institutional Investors (DIIs) bought to the tune of Rs 3,562 crore, according to data available.

According to sources in the trading community, the market will continue to be “range bound” in the next couple of weeks due to ongoing Lok Sabha polls and uncertainty over the poll results. No big rally is expected till results are out.

The National Stock Exchange (NSE) rose 113.80 points to close at 22,217.85.

See saw trend was seen during the day as the Sensex opened weak at 72696.72, fell 80 points. It was further slipped 93 points to 72683.99, days low.

In 30 scrips, 20 advanced while 10 declined. The Mid Cap gained 1.14 pc and small Cap by 1.79 pc.

The gainers were M& M by 3.76 pc to Rs 2270.55, L&T by 2.54 pc to Rs 3378.80, JSW Steel by 2.38 pc to Rs 880.60, NTPC by 1.45 pc to Rs 356 and IndusInd bank by 1.28 pc to Rs 1422.15.

The losers were TCS by 1.14 pc to Rs 3901.95, Nestle India Ltd by 1.05 pc to Rs 2489.25, Axis Bank by 0.94 pc to Rs 1124.15 and ICICI bank by 0.59 pc to Rs 1120.95.

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