Sensex rises 172 points, Nifty 0.61% higher as telecom, financial stocks rise

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Market update, Sensex Up. Nifty HigherThe benchmark indices settled higher on Tuesday closing, tracking positive trend seen in Asian and global markets. The BSE Sensex, rose 172.37 points or 0.59% to 29,411. The Nifty-50 index rose 55.60 points or 0.61% to 9,100.80. Financial, automobiles and telecom shares led the rally. Jet Airways rose 2% after reports indicated a fund raising by selling a minority stake.

Most auto stocks rose. Eicher Motors rise 3.90%, Tata Motors surge 1.58%, Mahindra & Mahindra went up 0.84%, TVS Motor Company rose 0.72%, Ashok Leyland gained 0.70%), Bajaj Auto up 0.68% and Escorts edged higher by 0.22%.

Meantime, Dishman Pharma soared nearly 20% to an all-time high after company’s partner Tesaro Inc obtained the US Food & Drug Administration’s APAPROVAL for an ovarian cancer drug.

The market breadth, showing the overall health of the market, was positive. On BSE, 1,445 shares advanced, 1,401 shares declined and a total of 208 shares were unchanged.

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