/Sensex ends in the black; financials, IT stocks boost index

Sensex ends in the black; financials, IT stocks boost index

A broker monitors share prices at a brokerage firm in Mumbai August 9, 2011. REUTERS/Danish Siddiqui/File Photo

BENGALURU (Reuters) – Indian shares closed higher on Tuesday, with financials and IT stocks driving gains on the index as investors awaited further cues from the budget due later in the week.

Earlier in the session, markets witnessed thin trade as heavy rains lashed Mumbai, India’s financial capital, for a second straight day, disrupting road, rail and air traffic. The authorities declared a public holiday in the city.

The broader Nifty closed 0.38% higher at 11,910.3, while the benchmark Sensex settled 0.33% firmer at 39,816.48.

Housing Development Finance Corp Ltd closed 1.6% up, while Infosys Ltd ended the session 1.1% higher.

Meanwhile, a day after auto makers posted lacklustre monthly sales figures, the country’s auto index rebounded from early losses to close 0.2% firmer.

Shares of Yes Bank Ltd finished the session 8.3% lower on report that Mumbai-based real estate company Radius Developers defaulted on scheduled interest payments on 12 bln rupees ($174.07 million) loan to the lender.

Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips