Mumbai, May 31 (IANS) A benchmark index for Indian equities markets Tuesday closed 271 points higher, ignoring latest official data which showed that the gross domestic product dipped to 7.8 percent in the last quarter.
Realty and FMCG scrips led the gainers’ pack amid strong cues from Asian and European bourses.
Revised estimates from the central statistics office showed India’s economic expansion at 8.5 percent last fiscal, 0.1 percent lower than the advance estimates.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,266.61 points, closed at 18,503.28 points, up 271.22 points or 1.49 percent from its previous close at 18,232.06 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended higher at 5,561.15 points, up 1.61 percent.
Broader markets too were ruling in the green with the BSE midcap index ending 1.8 percent up and the BSE smallcap index up 0.99 percent.
Realty, FMCG, banking and healthcare stocks rose the most. All 13 sectoral indices on the BSE ended in the green.
The market breadth was positive with 1,831 stocks advancing, 1,001 on the decline and 111 unchanged.
Gainers on the 30-scrip Sensex included: Jaiprakash Associates, up 4.59 percent at Rs.86.50; HDFC Bank, up 3.47 percent at Rs.2,388.30; DLF, up 3.27 percent at Rs.238.55 and ITC, up 3.07 percent at Rs.193.35.
The sole loser on the benchmark index was Cipla, which ended 1.05 percent lower at Rs.326.10.
According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $26.3 million Tuesday.
Asian markets rallied Tuesday on reports that the Japanese industrial output had risen last month.
The Nikkei of the Japanese stock exchange closed 1.99 percent up at 9,693.73 points, while Hong Kong’s Hang Seng ended 2.16 percent up at 23,684.13 points.
The Shanghai Composite index of the Chinese markets too ended higher at 2,743.47 points, up 1.37 percent.
European markets too were ruling higher as traders cheered news that Greece was ready to accept further austerity measures so as to get next tranche of funding from the International Monetary Fund and European Union.
Britain’s FTSE was up 0.96 percent at 5,995.91 points.
Around midday, the French CAC 40 rose 1.6 percent at 4,005.75 points, while the German DAX was up 2.06 percent at 7,308.01 points.
