Market on a roll: Sensex gallops 582 points on earnings boost, stimulus hopes

Mumbai: The Indian stock market began the post-Diwali session with a bang on Tuesday, with the benchmark Sensex surging 582 points to close at a near four-month high on hopes of more economic stimulus measures and income tax cuts.

Starting the first full session of Samvat 2076 on a bullish note, the 30-share Sensex soared over 666 points before settling 581.64 points, or 1.48 per cent, higher at 39,831.84. It hit an intra-day high of 39,917.01 and a low of 39,254.12.

Likewise, the broader NSE Nifty rallied 159.70 points, or 1.37 per cent, to close at 11,786.85. Bourses saw a broad-based buying throughout the day as sentiment was further boosted by encouraging quarterly corporate earnings and US-China trade deal optimism.

On the Sensex chart, Tata Motors emerged as a standout performer surging about 17 per cent after the company reported narrowing of losses in the September quarter.

Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.

Elsewhere in Asia, Shanghai, Hong Kong and Seoul ended on a negative note, while Tokyo closed in the green.

Europe was trading in the red in early deals.

Meanwhile, the Indian rupee closed with marginal gains at 70.84 against the US dollar.

Brent crude futures, the global oil benchmark, fell 0.97 per cent to $60.97 per barrel.