Sensex Surges 550 Points, Nifty Above 17,050; Kotak Bank, Axis Bank Top Gainers
NDTV
Reliance Industries, ICICI Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank and Tata Steel were among the top movers in the Sensex.
The Indian equity benchmarks rebounded on Tuesday with the 30-share Sensex rising over 550 points and Nifty 50 index reclaiming its important psychological level of 17,050 led by gains in Reliance Industries, ICICI Bank, Kotak Mahindra Bank, HDFC Bank, Axis Bank and Tata Steel amid positive cues from other Asian markets. Asian stocks edged higher on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets gained after the central bank there eased monetary policy.
As of 9:48 am, the Sensex was up 560 points at 57,307 and Nifty 50 index advanced 168 points to 17,080.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.6 per cent after declining on Monday to the lowest level in one year.
Overnight, dollar edged higher while US and European shares rallied on Monday after easing concerns about the Omicron coronavirus variant led investors to buy stocks that will likely perform well in a rising interest rate environment.
