Indian Markets ended higher on Tuesday, amid firm global cues - LuvKush Finserve

Markets ended higher on Tuesday, amid firm global cues, after the Reserve Bank of India stepped to prevent further fall in the rupee. The recovery in the rupee also boosted market sentiment. The Sensex closed up 115 points at 19,439 and the Nifty gained 47 points to close at 5,859 for the day.

The broader markets had a strong session in which both the mid and smallcap indices advanced 0.7%, outperforming the BSE benchmark index which closed with a 0.6% gain. The rupee rallied on Tuesday from a record low in the previous session after regulators restricted speculative trading in currency derivatives, although the measures are expected to provide only brief respite for the currency.

The rupee was trading at 60.40 to the US dollar compared to its previous close of Rs 60.61. Late on Monday the Reserve Bank of India banned banks from proprietary trading in domestic currency futures and options, while Securities and Exchange Board of India (Sebi) doubled the margin requirement on the domestic dollar-rupee forward trade.

All the sectoral indices were in the green for the day. The top gainers were Consumer Durables, Power, Realty, Capital Goods, Health Care and Bankex indices gaining 1.2-2%. Oil & Gas index up 0.04% was the least gainer.

Source : Equity Bulls

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