Sensex showed a rise of 40.96 points or 0.15%, while NSE Nifty closed 19.85 points or 0.23 % higher at 8,528.55.
Shrugging off weak global cues, the BSE Sensex in a choppy trade inched up after two days on Tuesday, led by gains in banking stocks following government's decision to pump Rs 22,915 crore into 13 PSU banks.
Hopes over passage of the GST bill in the ongoing session of Parliament and good progress in monsoon rains across the country also buoyed trading sentiment. Shares of state-run banks such as Canara Bank, State Bank
of India and Indian Overseas Bank turned buyers' fancy and recorded gains of up to 4.71%. The Centre has provided Rs 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to enhance lending operations
and enable them to raise more money from the market.
Meanwhile, global oil prices eased on concerns over a glut in the industry, pulling down Brent by 0.30% to US $46.82 per barrel. Consequently, shares of state-run oil marketing companies such as HPCL, IOC and BPCL were in limelight, surging by up to 5.09%. "Earnings released so far have failed to add more legs to the previous weeks' rallies, but with potential for GST clearance, optimism remained, and value buying was noticed at
lower levels," said Anand James Chief Market Strategist Geojit BNP Paribas Financial Services.
The 30-share Sensex resumed higher at 27,790.05 and firmed up to 27,826.69 on emergence of buying in bluechips. However, it fell afterwards to 27,637.98 before ending at 27,787.62, showing a rise of 40.96 points or 0.15%. The NSE Nifty closed 19.85 points or 0.23 % higher at 8,528.55 after shuttling between 8,540.05 and 8,476.70. Broader markets displayed a mixed trend with BSE mid-cap rising 0.18 %, while the small-cap shed 0.11%.
Overseas, Europe was lower amid a drop in oil prices and ongoing geopolitical tensions, despite US markets closing at all-time highs in Monday's trade. Asian indices ended mixed, Hong Kong, Japan, South Korea
and Singapore were down 0.21% to 0.60% while China and Taiwan rose 1.37% to 0.30%. European stocks fell as disappointing corporate earnings soured investors' sentiment with France, Germany and the UK
indices down up to 1.13%.
In domestic market, 16 scrips out of the 30-share Sensex pack finished higher. Major gainers were, ICICI Bank (2.11%), Power Grid (1.90%), Lupin (1.52%), Tata Steel (1.27%), TCS (1.15%), Tata Motors (1.12%), RIL (1.11%), Adani Ports (1.06%) and ONGC (0.98%). However, HUL fell 2.75% followed by Axis Bank (1.06%), HDFC Bank (1.03%), M&M (0.84%), Coal India (0.81%) and Hero MotoCorp (0.77%). Shares of Ultratech Cement gained 0.18% to Rs 3,505.90 after it reported a 29% growth in consolidated net profit at Rs 780.11 crore for the quarter ended June.
Jaiprakash Power Ventures surged 5.44% to Rs 6.40 as JSW Energy will acquire its 500 MW thermal plant at Bina in Madhya Pradesh at an enterprise value of Rs 2,700 crore. Among BSE sectoral indices, oil&gas rose by 1.90%, followed by energy 1.41%, power 0.64%, utilities 0.54%, healthcare 0.48%, tech 0.44% and industrials 0.37%. The market breadth was weak as 1,456 stocks declined 1,214 advanced and 166 ruled steady of total 2,836 stocks.
Total turnover fell to Rs 2,817.03 crore from Rs 3,033.87 crore on Monday.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "BSE Sensex")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}