Sensex shoots up; Tata Motors zooms 16%

A view of the BSE building in Mumbai.
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A view of the BSE building in Mumbai.
A view of the BSE building in Mumbai.

On the other hand, Bharti Airtel, Kotak Bank, PowerGrid and SBI fell up to 3.41%.

Equity benchmark Sensex shot up nearly 582 points on Tuesday on broad-based buying by participants buoyed by encouraging quarterly earnings and US-China trade deal optimism.

On the Sensex chart, Tata Motors emerged as a standout performer surging about 17% after the company reported narrowing of losses in the September quarter.

Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS — rising as much as 7.09%.

The 30-share Sensex soared over 666 points before settling 581.64 points, or 1.48%, higher at 39,831.84. It hit an intra-day high of 39,917.01 and a low of 39,254.12.

The broader NSE Nifty rallied 159.70 points or 1.37% to close at 11,786.85.

Shares of Reliance Industries (RIL) also ended 2.30% higher after the company on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse ₹1.08 lakh crore equity into this new unit.

On the other hand, Bharti Airtel, Kotak Bank, PowerGrid and SBI fell up to 3.41%.

Besides strong earnings from bluechip companies, market is abuzz on optimism over US-China trade deal and the European Union extending Brexit deadline to 31 January, 2020, traders said.

Elsewhere in Asia, Shanghai, Hong Kong and Seoul ended on a negative note, while Tokyo closed in the green.

Europe was trading in the red in early deals.

Meanwhile, the Indian rupee appreciated marginally to 70.86 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, fell 0.97% to $60.97 per barrel.


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