Closing Bell: Sensex jumps 1276 points, Nifty up 386 points
The Sensex surged 1,276.66 points or 2.25% to settle at 58,065.47
The Nifty rallied 386.95 points or 2.29% to close at 17,274.30
The rupee appreciated by 29 paise to end at 81.53 against the US dollar
Indian equity benchmarks bounced back on Tuesday with the Sensex and Nifty ending higher by above 2%, amid positive trends in global equity markets. Markets made a gap-up opening and continued their rally mood till the end to close their session with splendid gains ahead of the corporate earnings session.
The Sensex surged 1,276.66 points or 2.25% to settle at 58,065.47. During the day, it zoomed 1,311.13 points or 2.30% to 58,099.94. The Nifty rallied 386.95 points or 2.29% to close at 17,274.30.
The broader indices ended in green with the BSE Midcap index gaining 2.42% and the Small cap index up by1.49%. The top gaining sectoral indices on the BSE were Metal up by 3.43%, Bankex up by 2.74%, IT up by 2.68%, TECK up by 2.47% and Utilities was up by 2.35%, while there were no losing sectoral indices on the BSE.
Top gainers from the Sensex were IndusInd Bank up by 5.29%, Bajaj Finance 4.23%, TCS 3.58%, Bajaj Finserv 3.57%, HDFC 2.96%, Tata Steel 2.90%, Larsen & Toubro 2.87%, HDFC Bank 2.81%, Wipro 2.81% and Axis Bank 2.77%.
Among the laggards were Power Grid Corp down by 1.07%, Sun Pharma by 0.24%, and Dr. Reddy’s Labs by 0.18%.
The Indian rupee appreciated by 29 paise to end at 81.53 against the US dollar as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.
Asian markets ended mostly higher with the Nikkei 225 up by 2.96%, the Straits Times up by 1.02%, and the KOSPI Composite up by 2.50%.
European stock exchanges were trading in the positive territory in mid-session deals. The US markets ended significantly higher on Monday after some weak economic data raised hopes that the Federal Reserve might ease away from aggressive interest rate hikes.
The BSE benchmark had plunged 638.11 points or 1.11% to settle at 56,788.81 on Monday. The Nifty tumbled by 207 points or 1.21% to end at 16,887.35.
Brent crude futures, the international oil benchmark climbed 0.78% to 89.55 per barrel.
According to stock exchange data, foreign institutional investors turned buyers after remaining net sellers in the recent past and bought shares worth Rs 590.58 crore on Monday.