Sensex, Nifty rebound over 2.5pc on strong gains in banking, IT stocks
India Today
Sensex and Nifty soared over 2.5 per cent driven by value buying in banking, IT and oil stocks. All the BSE sectoral indices ended in the green today.
Benchmark BSE Sensex and Nifty soared over 2.5 per cent to log their best single-day gain in more than three months on Tuesday, driven by value buying in banking, IT and oil stocks amid mixed global cues.
The 30-share Sensex jumped 1,564.45 points or 2.70 per cent to settle at more than one-week high of 59,537.07. During the day, it zoomed 1,627.16 points or 2.80 per cent to a day's high of 59,599.78.
The broader NSE Nifty spurted 446.40 points or 2.58 per cent to close at 17,759.30 as all 50 components advanced.
The key indices logged their best single-day gain since May 20. The indices had tumbled more than 1.4 per cent on Monday after US Federal Bank chair Jerome Powell indicated last week that the central bank will stick to a strategy of rate hikes to cool inflation.
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Making a sharp recovery, all the 30 Sensex shares ended in the green. Bajaj Finserv rallied the most by 5.47 per cent, followed by Bajaj Finance which jumped 4.86 per cent.
IndusInd Bank jumped 4.38 per cent, Tech Mahindra by 3.96 per cent, ICICI Bank by 3.72 per cent, Kotak Mahindra Bank by 3.46 per cent, Tata Steel by 3.29 per cent and HDFC by 3.28 per cent.
