Equity benchmark indices recovered sharply on Tuesday
after losing for the past two sessions, with the Sensex surging over 776
points, supported by buying index heavyweights Reliance Industries (RIL) and
rebounding of global markets.

The BSE Sensex jumped 776.72 points or 1.37% to close at
57,356.61. During the day, it surged 862.35 points or 1.52% to 57,442.24.

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The
broader NSE Nifty rallied 246.85 points or 1.46% to finish at 17,200.80. BSE
midcap and smallcap indices grew 0.7-1.5%.

All the sectors settled in the green with auto, realty
and power indices up 2-3%.

Major gainers from the 30-share Sensex pack include
PowerGrid up by 3.93%, Titan up by 3.92%, M&M up by 3.85%, IndusInd Bank up
by 3.54%, Bajaj Finance up by 3.31%, Reliance up by 3.00%, Larsen & Toubro
up by 2.54%, SBI up by 2.28%, Bharti Airtel up by 2.27% and HUL up by 2.25%.

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Among the losers were Axis Bank down by 0.70%, Asian
Paints down by 0.15%, Maruti down by 0.12% and TCS down by 0.09%.

Breaking its two-day losing streak the rupee rallied 4
paise to 76.60 against the US dollar.

Asian market peers in Tokyo, Hong Kong and Seoul closed
in the green, while Shanghai ended with losses.

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European markets were also trading higher in the
afternoon session.

US stocks settled with gains in the overnight session.

International oil benchmark Brent crude fell 0.75% to USD
101.55 per barrel.

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According to stock exchange data, foreign institutional
investors continued their selling spree, offloading shares worth a net Rs
3,302.85 crore on Monday.