Mumbai: Equity benchmark Sensex jumped 280 points on Tuesday following positive factors in index majors HDFC Bank, ICICI Bank and Reliance Industries regardless of a weak development in world markets.
The 30-share BSE index ended 280.15 points or 0.56 per cent greater at 50,051.44. The broader NSE Nifty superior 78.35 points or 0.53 per cent to 14,814.75.
UltraTech Cement was the highest gainer within the Sensex pack, rising round 3 per cent, adopted by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Maruti.
On the opposite hand, ONGC, PowerGrid, ITC, NTPC, M&M and HDFC have been among the many laggards.
Domestic equities rebounded sharply regardless of weak world cues primarily supported by sharp restoration in monetary shares, mentioned Binod Modi, Head – Strategy at Reliance Securities.
“The Supreme Court pronounced that waiver of compound interest during loan moratorium should be for all. While there is still ambiguity about who will be bearing the additional burden, the comfort about the possible end of uncertainty about banks’ NPAs led bank stocks to see sharp up-move,” he famous.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a detrimental notice. Stock exchanges in Europe have been additionally buying and selling with losses in mid-session offers.
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Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 3.53 per cent decrease at USD 62.34 per barrel.
