Equity benchmarks rose on Tuesday, extending their gains for the third consecutive day, driven by a broader risk-asset rally after a dramatic U-turn in British fiscal policy brightened investor sentiment.
Stocks were also helped by the strength of Asian peers and overnight advances on Wall Street, driven by improving risk sentiment led by strong corporate earnings updates.
The 30-share Sensex index jumped 549.62 points to end at 58,960.60, and the broader NSE Nifty-50 index climbed 175.15 points to 17,486.95, with both benchmarks extending their rally for the third straight day.
The Sensex index rose 491.01 points to 58,410.98 in the previous session and Nifty ended 126.10 points higher at 17,311.80, reversing losses in early trade on Monday.
Asian shares rose, and the dollar fell to its lowest level in more than a week as the relief rally continued to rally after the S&P 500 closed above a key technical level.
“The index was up 1 per cent as Dow futures were up 233 points. Oil was relatively limited, hovering between $92-93 a barrel. Most global indices ended in the green,” Treasury chief Anil Kumar Bhansali said. Treasury chief Anil Kumar Bhansali said. In Finrex Treasury Advisors.