Sensex jumps 748.31 points, Nifty settles at 11,095

Sensex jumps 748.31 points, Nifty settles at 11,095

MUMBAI [Maha Media]:  The BSE Sensex and the Nifty ended sharply higher on Tuesday as banking, auto and energy shares rallied from oversold territories. The Sensex closed 748.31 points or 2.03% higher at 37,687.91 and the Nifty settled 203.65 points or 1.87% higher at 11,095.25. Reliance Industries was the top gainer in Nifty, up 7.51%. Banking, auto and metal stocks also rallied in today's trade, taking indices higher.

Among Nifty stocks, RIL was the top gainer, up 7.51% followed by Zee Entertainment and HDFC Bank, which gained 6.22% and 3.96% respectively. HDFC Bank today informed exchanges that the RBI has approved the appointment of Shashidhar Jagdishan as the next MD & CEO of the bank. He will replace Aditya Puri. JSW Steel, Maruti Suzuki, Hero MotoCorp, Axis Bank, Dr Reddy's Lab, HDFC were the other prominent gainers in the Nifty, rising between 2.25%-3.35%.

Tech Mahindra was the top loser in Nifty, down 3.11% followed by BPCL and IndusInd Bank, which fell 2.21% and 2.08% respectively. HCL Tech, Tata Motors, Grasim, Ultratech Cement, Gail, Infosys, Shree Cements were the other big losers in the Nifty.

Broader indices also gained today. Market breadth was positive. Out of the 1602 shares traded on the NSE, 1,072 shares closed with gains while 530 shares settled in the red.

The rupee pared some of its initial losses and settled 3 paise down at 75.04 against the US dollar on Tuesday. During the session, the domestic unit witnessed an intra-day high of 74.85 and a low of 75.17 against the American currency.

Positive global shares boosted sentiments today. Asian shares mostly closed in the green while European shares were mixed. As of 4 pm, Germany's DAX was down 0.51%, London's FTSE 100 was up 0.01%, CAC 40 advanced 0.06%. US index futures were marginally in the red.

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