Equity benchmark Sensex jumped 887 points on Tuesday, recovering from the carnage of two sessions, led by gains in major indices ICICI Bank, HDFC Twins and Infosys amid a positive trend in global markets.
According to experts, global equity markets have got some relief after studies related to the Omicron strain of COVID-19 suggest that even though it is spreading faster, it is substantially lighter than the delta variant.
The 30-share BSE Sensex closed 886.51 points or 1.56% higher at 57,633.65. Similarly, the broader NSE Nifty rose 264.45 points or 1.56% to 17,176.70.
Tata Steel was the top gainer in the Sensex pack, rising nearly 4%, followed by Axis Bank, ICICI Bank, Kotak Bank, SBI and Bajaj Finance.
On the other hand, Asian Paints was the lone laggard.
Arijit Malakar, Head (Retail) Ashika Stock Broking said, “The market gained momentum after two days of selloff due to positive global cues. Investors are following a buy-sell strategy and thus get quality stocks at affordable prices. Depositing.” ,
Further, he added that studies related to the Omicron strain of COVID-19 have shown that it is substantially milder than the delta variant and provides some relief to the global equity markets.
Additionally, the RBI is expected to keep interest rates stable when the MPC announces the outcome of its meeting on December 8, Mr. Malakar said.
Elsewhere in Asia, shares ended higher in Shanghai, Hong Kong, Seoul and Tokyo.
Stock exchanges in Europe were also trading on a positive note in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 2.26% to $74.73 a barrel.
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