Energy stocks propel Sensex to gains for seventh straight day, Nifty stable

Equity benchmark indices rose for the seventh consecutive session on Tuesday boosted by gains in energy and financial stocks. After a volatile start, all sectoral indices ended in the green except autos and metals.

The BSE S&P Sensex closed 268 points higher at 38,363 while the NSE Nifty 50 was up 70 points at 11,532. Axis Bank, HCL Tech, Bharti Infratel, Reliance Industries, Infosys and Zee were the biggest gainers. But Larsen & Toubro, Eicher Motors, JSW Steel, Hero MotoCorp and Maruti lost the most.

The shares of Coffee Day Enterprises slipped 3 per cent after its promoter V G Siddhartha sold his entire stake of Mindtree to Larsen & Toubro. Hotel Leela Venture stocks were locked in upper circuit of 5 per cent in the late morning session after the company's board approved a proposal to sell four hotels properties to Brookfield for Rs 3,950 crore.

The shares of Anil Dhirubhai Ambani Group's were cheerful and gained nearly 5 per cent after brother Mukesh Ambani helped him to clear Ericsson dues by paying Rs 453 crore for Reliance Communication, a day before the four-week deadline set by the Supreme Court to clear dues expires. Meanwhile, Asian shares moved in tight ranges but closed mixed ahead of the two-day US Federal Reserve policy meeting which will set the tone for borrowing costs.

Worries over Brexit continued as British members of Parliament on Monday cast doubt on Prime Minister Theresa May's third attempt to back her deal. And the Speaker of Parliament ruled that she could not put her plan to split from the European Union to a new vote unless it was re-submitted in a fundamentally different form. 

(With inputs from agencies.)