Trading on Tuesday was brisk and saw Sensex posting a 213.66 point or a 0.68% gain, fresh with anticipations that the RBI could slash interest rates with the monetary policy meeting expected to make an announcement soon.
By end of trading hours, the Sensex closed at 31497.38, while the Nifty NSE was up 70.90 points or 0.72% at 9859.50.
Auto stocks bore the best gains today. Stocks such as Tata Motors (up by 3.64%), Bajaj Auto (1.86%), Heromoto Corp (0.74%) fared well. Mahindra & Mahindra also posted decent figures during the session. Stocks of Maruti however slumped by 102.15 points or 1.28% in the negative.
The car-maker shared details of its September sales figure. The report shows sales of mid-size categories such as Ciaz down by 14.4% in September'17 compared to a year ago. The mini-product category such as Alto, WagonR too observed a 13.3% dip. Export numbers too contracted by 1.3% for the month, in comparison with the corresponding period a year ago.
Powergrid corporation (down by 2.21%), and Bharti Airtel (1.04%), were the losing stocks on the Sensex.
On the broader side, most indices on the BSE ended the day marginally higher. BSE Next50 was the top gainer with a 284.50 points or 0.86%.
Among sectoral specifics, consumer durable scrips were up by 2.23%, followed by energy stocks (up by 1.47%). Power (down by 0.49%), Capital Goods (0.20%), and Telecom stocks (0.05%) were the sectors bleeding the most.
While market is closely anticipating the RBI to cut down the rates, experts at brokerage houses suggested that the RBI may not cut it short quickly.
Besides RBI rate-cut announcement, the markets also seemed to positively take cues from the news on steadying PMI manufacturing activity for a consecutive time in September.
