Benchmark Sensex rebounded about 425 points to end well above the 38,000-mark Tuesday, breaking its two-day falling streak on gains in heavy-weights RIL, SBI and ICICI Bank amid persistent foreign fund inflows and positive global leads.
The broad-based NSE Nifty went up by 129 points to 11,483.25. and was supported ONGC, Coal India, Reliance Industries, IndusInd Bank, Tata Steel, Vedanta Ltd, Yes Bank, Tata Motors, ICICI Bank, SBI, Kotak Bank, Sun Pharma, Bajaj Finance, Axis Bank, L&T and Maruti Suzuki, gaining up to 1.99 per cent.
Following yesterday’s rally, the shares of Jet Airways gained another 6 per cent with its founder and Chairman Naresh Goyal and his wife Anita Goyal stepping down from the crisis-hit airline’s board.
A firm trend in other Asian markets and a slightly better trend overnight on Wall street buoyed the trading sentiments in the domestic equity market.
Brokers said buying by retail investors and unabated foreign fund inflows amid a firm trend in other Asian markets led the markets higher.
Oil-to-telecom conglomerate Reliance Industries emerged as a prominent gainer in the Sensex pack, spurting over 3 per cent. Foreign institutional investors (FIIs) remained net buyers, pumping in Rs 150.40 crore, while domestic institutional investors (DIIs) sold shares worth Rs 12.52 crore Monday, provisional data showed.
Elsewhere in Asia, Japan’s Nikkei was up 1.84 per cent, while Hong Kong’s Hang Seng up 0.08 per cent, Singapore’s Straits Times rose 0.73 per cent, Taiwan index up 0.50 per cent and Korea’s KOSPI rose 0.17 per cent.
However, Shanghai Composite Index fell 0.99 per cent in their late morning deals.
The US Dow Jones Industrial Average ended slightly higher by 0.06 per cent in Monday’s trade amid worries about a slowdown in global economic growth lingered.
(With inputs from PTI)