Sensex posts biggest one-day gain in three months

Mumbai: Buoyed by the government move to withdraw additional surcharge on foreign investors and initiate measures to revive the economy, benchmark stock indices Sensex and Nifty saw their best day in over three months on Monday.

The BSE gauge Sensex settled with a gain of 2.16 per cent or 792.96 points; while the NSE Nifty ended 2.11 per cent or 228.50 points higher.

Indian equities during the second half of the trading session also got a fillip from the news that the US and China will soon resume trade talks despite many failed negotiations in recent months.

However, Asian markets closed with significant losses as investor worries grew over the ever-lasting US-China trade war, though sentiment revived in other markets, including India and Europe after the news broke out about a possible resumption of talks between the two major economies.

Riding on a wave of economic stimulus optimism, the 30-share Sensex opened over 663 points higher, but global volatility wiped out its gains as the session progressed. It swung 1,052 points during the day before settling at 37,494.12. The index, however, made a roaring comeback in the later half tracking news about US-China trade talks resumption.

Similarly, the broader NSE Nifty reclaimed the 11,000-level. During the day, it climbed a peak of 11,070.30 and touched a low of 10,756.55. It finally closed at 11,057.85.