Sensex up 776-pts with gains in energy, banking and auto stocks

The Indian stock markets' primary indices, the Sensex and Nifty, soared by 1.4 percent on Tuesday, snapping two consecutive days of losses, led by significant buying support in energy, IT, banking, and auto stocks. The 30-stock S&P BSE Sensex rose 776.72 points, or 1.37 percent, to 57,356.61 points, up from 56,579.89 points the day before.

The National Stock Exchange's (NSE) broader Nifty 50 index rose 246.85 points, or 1.46 percent, to 17,200.80 points, up from its previous day's close of 16,953.95 points. On Monday, the Nifty 50 had dropped 218 points, or 1.27 percent. Energy, IT, auto, and financial equities all had strong buying support.

The benchmark Sensex started the day in the green at 57,066.24 points and rocketed to a high of 57,442.24 points intra-day, snapping two consecutive sessions of significant losses. In the preceding two sessions, the Sensex had dropped 1,331 points. On Monday, the benchmark index fell 617.26 points, or 1.08 percent.

The stock of Power Grid Corporation rose by 3.93 percent to Rs 231.65. Titan  Company stock rose at Rs 2550, up 3.92 percent. Mahindra & Mahindra's stock rose 3.85 percent to Rs 938. The stock of IndusInd Bank gained 3.36 percent to Rs 978.65. Reliance Industries Limited, the index's heavyweight, rose 3 percent to Rs 2775.70. The stock of State Bank of India climbed by 2.28 percent to Rs 506.  Only four of the benchmark Sensex's 30 stocks ended the day in the red. Axis Bank lost 0.72 percent of its value to Rs 775.05. Asian Paints, Maruti Suzuki, and TCS were all in the red at the end of the day.

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