Mumbai, Oct. 13 -- Stock markets rebounded sharply on Tuesday, with the benchmark Sensex rallying 1,109 points and the Nifty closing above 22,720, bolstered by a rally in IT, financial and FMCG shares, recovery in the rupee.
The 30-share BSE Sensex jumped 1,109.10 points, or 1.54 per cent, to settle near the day's high at 73,033.78, posting its best single-day gains in four months. During the day, it surged 1,120.99 points, or 1.55 per cent, to hit a high of 73,045.67.
The 50-share NSE Nifty climbed 358.60 points, or 1.60 per cent, to end at 22,721.95, marking its best single-day rebound in more than two months. The index hit a day's high of 22,721.95.
From the 30 Sensex firms, HCL Tech, TCS, Tech Mahindra, Infosys, HUL, Titan, Bajaj Finserv, SBI, HDFC Bank, M&M and ICICI Bank were among major index movers. Kotak Mahindra Bank, Eternal and Maruti were the laggards.
Broader markets, however, closed on a mixed note as the BSE MidCap Select index climbed 0.89 per cent, while the SmallCap Select index dipped 0.26 per cent.
Among BSE sectoral indices, Focused IT jumped 5.05 per cent, IT surged 4.92 per cent, Realty 2.48 per cent, Consumer Durables 1.50 per cent, PSU Bank 1.31 per cent, Auto 1.26 per cent, FMCG 1.22 per cent and Housing Finance 1.15 per cent. Hospitals and Healthcare were the laggards.
In Asian markets, South Korea's Kospi tanked 5.46 per cent. Japan's 225 index also ended lower. Shanghai's SSE Composite index and Hang Seng index settled in positive territory. Markets in Europe were trading higher. US markets ended mostly lower on Monday.
Brent crude declined 1.66 per cent to $104.6 per barrel. FIIs offloaded equities worth Rs 1,708.48 crore on Monday, according to exchange data.
On Monday, the Sensex tanked 547.65 points, or 0.76 per cent, to settle at 71,924.68. The Nifty dropped 157.10 points, or 0.70 per cent, to end at 22,363.35.
Published by HT Digital Content Services with permission from Millennium Post.