Stock mkts bounce back on buying in metal, bank stocks, optimism over India-EU FTA

Mumbai: Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA.

The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.

The 50-share NSE Nifty surged 126.75 points or 0.51 per cent to end at 25,175.40.

From the 30-Sensex firms, Adani Ports, Axis Bank, Tata Steel, Tech Mahindra, NTPC, SBI, UltraTech Cement and Bharat Electronics were among the biggest gainers.

Axis Bank jumped over 4 per cent after the firm reported a 4 per cent growth in its December quarter net profit to Rs 7,010.65 crore against Rs 6,742.99 crore in the year-ago period.

In contrast, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints, Eternal and ITC were among the laggards.

Among sectoral indices, metal jumped 3.11 per cent, services (1.96 per cent), commodities (1.87 per cent), PSU Bank (1.76 per cent), Private Banks index (1.08 per cent), utilities (0.93 per cent) and oil & gas (0.92 per cent). Consumer Durables declined 1.18 per cent, consumer discretionary (0.68 per cent) and FMCG (0.48 per cent).

The rupee rebounded from its all-time low levels and gained 22 paise to close at 91.68 against the US dollar on Tuesday.