Mumbai: Reacting to the approval for Greek's second debt deal, the Sensex on Tuesday rose 139.26 points or 0.76 per cent, to end at 18,428.61. However, global markets remained flat as they seemed have factored in the same news on Monday.
Oil & gas, telecom, banks and capital goods stocks supported the NSE benchmark to close above the 5600 level for the first time since July 25, 2011. It gained 42.85 points or 0.77 per cent to close nearly at seven-month high at 5,607.15.
Technical analyst Sudarshan Sukhani of s2analytics.com advised keeping long positions. "If traders don't have it then even now they can go and take it," he added.
Euro zone finance ministers approved a second bailout package for Greece. It will resolve its immediate financing needs with a 130-billion-euro rescue package. This deal also aims to cut country's debt to 121 per cent of GDP by 2020.
Back home, index heavyweights and oil & gas majors Reliance Industries and ONGC rallied 3 per cent & 3.7 per cent, respectively.
Telecom stocks like Bharti Airtel and Reliance Communications rose 3 per cent. Among banks, SBI and ICICI Bank climbed 1-1.5 per cent; HDFC Bank went up 0.67 per cent.
Capital goods major BHEL retained its top position in the buying list for the whole session, rising 4.8 per cent. However, L&T fell 0.4 per cent.
In the metal space, Tata Steel and Hindalco moved up nearly 3 per cent while Sterlite Industries tanked 3.5 per cent post sources claimed that Vedanta is looking to merge Sterlite and Sesa Goa.
Technology stocks like Infosys and Wipro declined 0.5 per cent & 1.5 per cent, respectively; while TCS gained 0.4 per cent.
The broader markets outperformed benchmarks - the BSE Midcap Index was up 0.9 per cent and Smallcap up 1.2 per cent.
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