Top gainers in the Sensex pack included Sun
Pharma, Tata Steel, ONGC, UltraTech Cement, NTPC and PowerGrid.
Snapping its seven-day
falling streak, equity benchmark Sensex rallied 480 points on Tuesday after
gains in index heavyweights Reliance Industries, ICICI Bank and Kotak Bank amid
positive cues from global markets.
After a highly volatile
session, the 30-share index surged 479.68 points or 1.26 per cent to end at
38,623.70 with 28 of its constituents ending in green.
The broader NSE Nifty
jumped 170.55 points or 1.53 per cent to close at 11,303.30.
Top gainers in the Sensex
pack included Sun Pharma, Tata Steel, ONGC, UltraTech Cement, NTPC and
PowerGrid.
On the other hand, ITC and
HDFC Bank ended in the red.
Domestic market sentiment
got a was boost after the Reserve Bank of India (RBI) said it was closely
monitoring global as well as domestic situation regarding the impact of deadly
coronavirus and ready to take necessary action to ensure orderly functioning of
financial markets.
Global stocks also rallied
on hopes of stimulus from policy makers to lessen the impact of coronavirus on
their economies ahead of the talks between G7 finance ministers and central
bank heads.
"Globally, financial markets
have been experiencing considerable volatility, with the spread of the
coronavirus triggering risk-off sentiments and flights to safe haven," the
RBI said in a statement.
Spillovers to financial
markets in India have largely been contained. Growing hopes of coordinated
policy action to mitigate a broader fallout to economic activity has boosted
market sentiment today, it said.
Bourses in Shanghai and
Seoul ended on a positive note while Hong Kong and Tokyo settled with losses.
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