BSE Sensex and Nifty were higher on Tuesday, tracking gains in other global markets. The Sensex gained over 100 points while Nifty edged up close to 7,850 levels.The gains were broad-based today barring some mild selling pressure in IT and consumer durable stocks.FMCG, capital goods, metal and banking stocks were among the outperformers. Vedanta, Cairn India, SBI, Sun Pharma, Cipla were up 0.80 per cent to 1.5 per cent to be among the biggest gainers in the Nifty pack.Commodity stocks were in focus as Brent crude prices continued to gain after the Paris attacks raised geopolitical tensions.

ICICI Bank was up 1.5 per cent after India’s biggest private sector lender by assets said that it will sell a 6 per cent stake in its life insurance joint venture in two separate deals worth a combined Rs 1,950 crore ($296 million) to billionaire Azim Premji and Singapore state investor Temasek.Sugar stocks extended their rally today after seeing sharp gains in the previous session amid a global rally in raw sugar prices.

The rupee will be in focus as the US dollar moved to near seven-month highs. In recent trade, the rupee was at 65.92/dollar against its Monday’s close of 66/dollar.Most Asian markets were sharply higher today, following an overnight rally on Wall Street. Markets in China and Japan were up nearly 1.5 per cent.Wall Street had its strongest session in three weeks on Monday, as investors bet Friday’s attacks in Paris would have little long-term impact on the US economy and corporate earnings. The Dow rose 1.4 per cent and the S&P 500 surged 1.5 per cent.

Courtesy: http://profit.ndtv.com/

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