Mumbai: The decline in the stock markets for the last two trading sessions came to an end on Tuesday and the BSE Sensex gained 497 points. Markets firmed up with gains in index heavyweights Reliance Industries, ICICI Bank and HDFC Bank amid a positive trend in other Asian markets.
The Sensex, based on 30 major stocks, gained 497 points, or 0.89 per cent, at 56,319.01 and the NSE Nifty jumped 156.65 points, or 0.94 per cent, to end at 16,770.85. HCL Tech was the top gainer with Sensex shares rising nearly four per cent. Apart from this, Wipro, Tata Steel, Titan, Tech Mahindra and Sun Pharma also gained. On the other hand, loss-making stocks include Power Grid, Axis Bank, Bajaj Finance and State Bank of India.
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Gaurav Garg, Head of Research, CapitalVia Global Research, said the rally in other Asian markets had a positive impact on the domestic market. He said, “The statement of a senior official of the commerce ministry gave encouragement to the traders. It said on Monday that exports have been strong since December last year and the situation is still there.
In other Asian markets, China’s Shanghai Composite Index, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Cospi remained in gains. In the major markets of Europe, there was a bullish trend in the afternoon trading. Meanwhile, international oil benchmark Brent crude slipped 0.07 per cent to $71.47 a barrel. (agency)