Mumbai: The Sensex and Nifty advanced for the second straight session on Tuesday, powered by across-the-board buying amid a bullish trend in global equities.
Index major Reliance Industries and IT stocks saw robust demand after their recent hammering, even as a depreciating rupee and hawkish global central banks weighed on sentiment, traders said.
The 30-share BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. During the day, it rallied 1,201.56 points or 2.32 per cent to 52,799.40.
Similarly, the NSE Nifty climbed 288.65 points or 1.88 per cent to finish at 15,638.80.
Driven by the rally in equities, the market capitalisation of BSE-listed firms jumped by Rs 5,77,006.83 crore to stand at Rs 2,40,63,930.50 crore.
Barring Nestle India, all Sensex components closed in the green. Titan rallied 5.92 per cent, followed by SBI, TCS, HCL Technologies, Dr Reddy's, Tata Steel, Wipro, Infosys, ITC and Tech Mahindra. In the broader market, the BSE smallcap gauge rallied 2.99 per cent and the midcap index jumped 2.42 per cent.
All the BSE sectoral indices ended with gains, with oil & gas index jumping the most by 5.96 per cent, followed by energy (4.95 per cent), consumer durables (3.93 per cent), metal (3.90 per cent), realty (3.79 per cent) and utilities (3.58 per cent).
As many as 2,502 stocks advanced and 831 declined, while 129 remained unchanged.
World stocks marched higher on bargain hunting, even as monetary policy tightening by central banks and risks of slowing global growth remained an overhang. Elsewhere in Asia, markets in Hong Kong, Tokyo and Seoul ended with smart gains, while Shanghai settled in the red. European bourses were trading in the green in mid-session deals. The US markets were closed on Monday for a holiday.
Meanwhile, international oil benchmark Brent crude jumped 1.57 per cent to $115.9 per barrel.
Snapping its three-day rising streak, the rupee declined 15 paise to close at 78.13 against the US dollar on Tuesday as persistent foreign fund outflows and a jump in crude oil prices weighed on investor sentiment.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,217.12 crore on Monday, as per exchange data.