The domestic equity benchmark indices recovered sharply on Tuesday amid easing in crude oil prices and buying in IT stocks. The <a href="https://www.mid-day.com/business/business-news/article/rupee-appreciates-82-paise-to-9496-against-us-dollar-amid-rbi-measures-23654791" target="_blank" rel="none noopener">appreciating rupee</a> also added to the investor optimism. &nbsp;&nbsp;
The 30-share BSE Sensex soared 1,109.10 points, or 1.54 per cent, to settle at 73,033.78.&nbsp; The 50-share NSE Nifty surged 358.60 points, or 1.60 per cent, to end at 22,721.95.&nbsp;
<h2>IT stocks lead&nbsp;</h2>
"Indian equities advanced as stronger-than-expected technology earnings boosted confidence in corporate profit growth and lifted benchmark-heavy large-cap stocks. Rupee stability and easing bond yields further supported sentiment, bringing financial stocks into focus," Vinod Nair, Head of Research, Geojit Investments said.
Among the 30 Sensex constituent, only three declined. Kotak Mahindra Bank, Eternal and Maruti Suzuki were among the laggards. IT stocks were the biggest gainers, with HCL Tech, Tata Consultancy Services (TCS), Tech Mahindra and Infosys all ending higher.&nbsp;
<a href="https://www.mid-day.com/business/business-news/article/hcltech-shares-surge-over-6-per-cent-on-strong-q2-fy27-net-profit-23654810" target="_blank" rel="none noopener">Shares of HCL Tech jumped</a> 8.28 per cent after strong net profit during July-September quarter of FY27. TCS climbed 6.59 per cent, Tech Mahindra gained 4.90 per cent and Infosys was advanced 4.44 per cent. Hindustan Unilever and Trent were the among the major gainers.
"Indian equities are likely to extend their recovery in the near term, supported by improving sentiment following India&rsquo;s Finance Minister Nirmala Sitharaman&rsquo;s remarks that the government is willing to hear stakeholders&rsquo; views on removing LTCG tax," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
On Monday, the Sensex slipped 547.65 points, or 0.76 per cent, to settle at 71,924.68. The Nifty shed 157.10 points, or 0.70 per cent, to end at 22,363.35.&nbsp;
<h2>Global cues</h2>
Brent crude, the global oil benchmark, declined 1.66 per cent to USD 104.6 per barrel, according to PTI.
"Lower crude prices, with Brent declining 2 per cent to around USD 104.5 per barrel and the rupee strengthened to Rs 95.4 per US dollar, supported by RBI measures to curb speculative forex activity and ease spot-market dollar demand, including a special dollar facility for OMCs and tighter norms for forex derivative transactions. Together, resilient domestic fundamentals, earnings momentum and improving currency dynamics could support further gains in the near term," Khemka said.&nbsp;
<a href="https://www.mid-day.com/business/business-news/article/market-round-up-fiis-offload-equities-worth-rs-34970-crore-diis-buy-rs-33460-crore-of-equities-23653183" target="_blank" rel="none noopener">Foreign Institutional Investors (FIIs) offloaded equities</a> worth Rs 1,708.48 crore, while Domestic Institutional Investors (DIIs) were net buyers and purchased equities worth Rs 3,045.02 on Monday, according to exchange data.&nbsp;
In Asian markets, South Korea's Kospi and Japan's 225 index ended lower, while Shanghai's SSE Composite index and Hang Seng index settled higher.
(With inputs from PTI)

The Sensex jumped  1,109.10 points, or 1.54 per cent, to settle at 73,033.78, while the Nifty climbed 358.60 points, or 1.60 per cent, to end at 22,721.95 

Sensex soars 1,109.10 points, Nifty gains 358.60 points as IT stocks rally 

Sensex slips 51 points, Nifty dips over 48 points in early trade amid elevated crude oil prices

The 30-share BSE Sensex soared 1,109.10 points, or 1.54 per cent, to settle at 73,033.78.  The 50-share NSE Nifty surged 358.60 points, or 1.60 per cent, to end at 22,721.95

Sensex soars 1,109.10 points, Nifty gains 358.60 points led by buying in IT stocks

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Home / Business / Stock Market / Article / Sensex soars 1,109.10 points, Nifty gains 358.60 points led by buying in IT stocks