Indian equity benchmarks the Sensex and Nifty surged over
2.5%, posting their best single-day gain in more than three months, on Tuesday
after heavy buying in banking, IT, and oil stocks.

The Sensex jumped 1,564.45 points or 2.70% to close at
59,537.07. During the day, it zoomed 1,627.16 points or 2.80% to 59,599.78. The
Nifty surged 446.40 points or 2.58% to 17,759.30.

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The broader indices ended in green with the BSE Midcap
index up by 1.97% and the Small cap index up by 1.40%. The top gaining sectoral
indices on the BSE were Realty up by 3.51%, Bankex up by 3.33%, Utilities up by
2.82%, Power up by 2.82%, and Oil & Gas up by 2.65%, while there were no
losing sectoral indices on the BSE.

Top gainers from the Sensex pack were Bajaj Finserv up by
5.47%, Bajaj Finance up by 4.86%, IndusInd Bank up by 4.38%, Tech Mahindra up
by 3.96%, ICICI Bank up by 3.72%, Kotak Mahindra up by 3.46%, Tata Steel up by
3.29%, HDFC up by 3.28%, Hindustan Unilever up by 3.27% and HDFC Bank up by
3.21%.

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The rupee jumped 47 paise to close at 79.44 against the US dollar, on the back of a strong trend in domestic equities.

Asian markets ended mostly higher on Tuesday with the KOSPI
Composite up by 0.99%, Nikkei 225 up by 1.14%, while the Hang Seng was down by
0.37% and the Shanghai Composite slipped by 0.42%.

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European stock markets were trading higher during
mid-session deals. The US stock markets had ended lower on Monday.

“Today’s rebound indicates the domestic economy’s
resilience in comparison to its global peers. Although the markets are
currently at premium valuations, continued support from foreign investors aided
domestic stocks to inch higher,” said Vinod Nair, Head of Research at
Geojit Financial Services.

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The BSE benchmark tanked 861.25 points or 1.46% to settle
at 57,972.62 points on Monday. The Nifty plunged 246 points or 1.4% to
17,312.90 points.

Brent crude, the international oil benchmark declined 2.60%
to $102.52 per barrel.

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According to stock exchange data, foreign institutional
investors (FIIs) offloaded shares worth Rs 561.22 crore on Monday.