Markets settle higher for 2nd day; Nifty jumps over 1 %

Equity indices ended higher for the second straight session on Tuesday, with the Nifty rallying over 1 %, helped by across-the-board buying and recovery in the U.S. and Asian markets.

Foreign fund inflows also added to the momentum.

The 30-share BSE Sensex climbed 578.51 points or 0.98 % to settle at 59,719.74. During the day, it rallied 964.56 points or 1.63 % to 60,105.79.

The NSE Nifty went higher by 194 points or 1.10 % to end at 17,816.25. In intra-day trade, it advanced 297.05 points or 1.68 % to 17,919.30.

Among the 30-share Sensex pack, Sun Pharma, Dr Reddy’s, IndusInd Bank, Tata Steel, Titan, Bajaj Finserv, ICICI Bank and Asian Paints were the major winners.

However, Nestle, Power Grid, Infosys and Reliance Industries Limited were the laggards.

Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended higher.

European equity markets were trading in the negative territory in mid-session deals. The U.S. markets ended with gains on Monday.

Meanwhile, the international oil benchmark Brent crude climbed 0.49 % to $ 92.45 per barrel.

Foreign institutional investors (FIIs) turned buyers as they bought shares worth a net ₹ 312.31 crore on Monday, according to data available with the BSE.