MUMBAI: Indian benchmark indices extended their recovery on Tuesday, with the Sensex rising 685 points and the Nifty gaining nearly 1%, led by banking and financial stocks.
The Sensex closed at 73,067.81, up 685.34 points, or 0.95%, while the Nifty 50 ended at 22,776.10, gaining 219.35 points, or 0.98%.
Banking and financial stocks were among the biggest contributors to the rally after lenders reported positive quarterly business updates. Private banks gained 1.41%, while several major lenders also ended higher.
Trent was the day’s biggest Sensex gainer, surging 12.78% to Rs 2,904 after the retail company projected a 23% year-on-year rise in standalone revenue for the September quarter.
The broader market also recorded strong gains. The Nifty Smallcap 100 rose 1.56%, while the Midcap 50 gained 1.23%. Chemicals, pharma, oil and gas, FMCG and financial services were among the leading sectors.
Lower crude oil prices also supported investor sentiment. Brent crude fell 1.65% to $98.66 a barrel, moving below the $100 mark.
Markets are now focused on the Reserve Bank of India’s monetary policy decision on Wednesday, with investors watching its stance on inflation, growth and interest rates.
