Sensex rallies for 3rd straight day; closes 246 points higher

Mumbai (Maharashtra) [India], July 19 (ANI): The Indian stock market's key indices rallied for the third consecutive day on Tuesday with the benchmark Sensex gaining 246 points led by good buying support in banking, infra, and energy stocks.
The 30 stock S&P BSE Sensex jumped 246.47 points or 0.45 per cent to close at 54,767.62 points against its previous day's close at 54,521.15 points.
Earlier, the Sensex started the day in the negative at 54,251.88 points and slumped to a low of 54,232.82 points in the early morning trade. The index turned positive later in the day rising to a high of 54,817.52 points in the intra-day.
This is the third straight day of rally in the benchmark Sensex. The index had gained 760.37 points or 1.41 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange rose 62.05 points or 0.38 per cent to 16,340.55 points against its previous day's close at 16,278.50 points.
The Nifty started the day in the negative at 16,187.05 points and fell to a low of 16,187.05 points in the morning trade. The Nifty rose to a high of 16,359.50 points in the intra-day.
The Nifty had gained 229.30 points or 1.43 per cent on Monday.
There was good buying support in infra, telecom and energy stocks.
The index heavyweight Reliance Industries Limited rose 0.79 per cent to Rs 2441.20. Tata Steel surged 1.65 per cent to Rs 919.25.
Axis Bank climbed 2.35 per cent to Rs 700.55. IndusInd Bank jumped 2.09 per cent to Rs 868.50. Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, State Bank of India and Bharti Airtel were among the major Sensex gainers.
IT stocks witnessed selling pressure. HCL Technologies slumped 1.14 per cent to Rs 890.05. Infosys slipped 0.35 per cent to Rs 1484.90. Nestle India, Sun Pharma, Kotak Bank and Dr Reddy's Laboratories were among the major Sensex losers. (ANI)