Sensex opens 80 pts higher; banks, capital goods gain

The BSE Sensex and NSE Nifty opened 0.6% higher on Tuesday following positive Asian cues and recovery in rupee. Asian markets (except Shanghai) were up 0.5-1.5%. The Indian rupee rose 30 paise to 55.36 a dollar today.

The BSE benchmark gained 73.49 points or 0.46% at 16,061.89 and the NSE benchmark was up 24.65 points or 0.51% to 4,872.80.

Infrastructure stocks gained ahead Finance Minister's meeting to discuss issues about the sector on Wednesday. Reliance Infrastructure and BHEL were up 1.5-2%, Larsen & Toubro was up 0.5%.

Jaiprakash Associates gained 2% as Yamuna expressway is close to being operationalised. UP government is expected to finalise toll rates soon. Jaypee Infra rallied 7.5%.

Hero Motocorp rose 1% as company said it would invest Rs 2,575 crore in two new plants. It will also set up new plant in Neemrana in Rajasthan with initial capacity of 750,000 units.

JSPL, Sterlite, SBI, ITC, ICICI Bank, HDFC Bank, HDFC, TCS and Tata Steel were other gainers.

However, CCI Chairman said final orders on tyre and cement cartels would be in next 2-3 weeks. ACC and Ambuja Cements were down 0.5-1%

However, Tata Motors, ITC, Coal India, ONGC and Infosys were under pressure.

The CNX Midcap went up 40 points to 6,809.  About two shares advanced for every share falling on the National Stock Exchange.

In the second line shares, Insecticides India rose 1.5% as The Hindu Business Line reported that company is planning to dilute equity this financial year by 7% - 8% to raise Rs 100 crore for expansion plans.

Hindustan Copper increased cathode copper price by Rs 3,594/kg; the stock was up 2%.

Future Capital Holdings jumped over 2%. Pantaloon Retail was up 2.5%

EIH Associated Hotels shot up 6% and Hindustan Motors surged 8%.

NFL, RCF, FACT and Chambal Fertiliser were up 1.5-3.5%.