Mild rally at bourses, Zee Entertainment up 40 pc

Equity benchmark indices closed with mild gains on Tuesday with select IT and banking stocks leading the rally.

At the closing bell, the BSE S&P Sensex was up by 69 points or 0.12 per cent at 58,247 while the Nifty 50 gained by 25 points or 0.14 per cent to 17,380.

Sectoral indices were mixed with Nifty private bank up by 1 per cent, auto and IT by 0.8 per cent each, and realty by 0.4 per cent.

Among stocks, shares of Zee Entertainment zoomed by 40 per cent at Rs 261.50 per unit on the BSE after Invesco Developing Markets Fund and OFI Global China Fund Llc -- which own a combined 17.9 per cent stake in the company -- called for an extra-ordinary shareholders' meet to remove Punit Goenka as a director.

IndusInd Bank gained by 3.93 per cent, Kotak Mahindra Bank by 1.3 per cent and Axis Bank by 0.6 per cent and Bajaj Auto by 0.8 per cent.

HCL Technologies, Tech Mahindra and Tata Consultancy Services were up by 2.4 per cent, 1.4 per cent and 0.9 per cent respectively.

Adani Ports, Hero MotoCorp, Tata Motors, ITC, Titan, NYPC, ONGC and SBI Life too were in the green. But those which lost were UltraTech Cement, HDFC, Nestle India and Tata Steel.

Meanwhile, Asia's share markets were mixed with investors awaiting US inflation data for more clues on when the Federal Reserve will taper stimulus.

Hong Kong's Hang Seng index dipped by 1.21 per cent after being dragged by property, financials and tech scrips.

Tokyo's Nikkei closed 0.73 per cent higher and South Korea's Kospi gained 0.67 per cent ahead of US inflation data.

( With inputs from ANI )