The Indian stock market’s key indices, Sensex and Nifty, surged by more than 2 per cent on Tuesday led by strong buying support in heavyweights TCS, HDFC Bank and Reliance Industries amid strong global cues.
The 30 stock S&P BSE sensex was trading 1182.01 points or 2.08 per cent higher at 57,970.82 points at 1.52 pm against its previous day’s close at 56,788.81 points.
Tracking buoyancy in the global equities, the India equities markets started the day with strong gains on Tuesday. The Sensex started the day 57,506.65 points and soared past 58,000 points mark. The Sensex hit a high of 58,035.69 points in the intra-day.
The Sensex had lost 638.11 points or 1.11 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange was trading 368.30 points or 2.18 per cent higher at 17,255.65 points against its previous day’s close at 16,887.35 points.
Tata Consultancy Services surged 3.12 per cent to Rs 3079. HDFC Bank soared 2.67 per cent to Rs 1450.55. The index heavyweight Reliance Industries Limited was trading 1.50 per cent higher at Rs 2409.80.
There was strong buying support in banking and financial stocks. IndusInd Bank surged 4.67 per cent to Rs 1210.10. Bajaj Finance jumped 3.28 per cent to Rs 7407. HDFC soared 2.98 per cent to Rs 2351. State Bank of India jumped 2.33 per cent to Rs 531.75.
Wipro, Tata Steel, L&T, ITC, Infosys, Axis Bank, Bajaj Finserv, ICICI Bank, Maruti Suzuki,
Kotak Bank and Tech Mahindra were among the major Sensex gainers.
Buying support was across the board. Only two of the 30 scrips that are part of the benchmark Sensex were trading in the red. Power Grid Corporation slipped 0.95 per cent to Rs 208.75. Dr Reddy’s Laboratories was trading 0.14 per cent down at Rs 4416.