Indian stock market benchmark Sensex traded 298 points higher on Tuesday afternoon due to strong buying support in HDFC twins and Maruti Suzuki, Hindustan Unilever, UltraTech Cement.
The 30 stock S&P BSE Sensex was trading 298.07 points or 0.55 percent higher at 54,768.74 points at 13.04 pm against its previous day’s close at 54,470.67 points.
The Sensex opened earlier in the morning in negative territory at 54,309.31 and fell to a low of 54.269.59 in the early morning trade. At noon, the Sensex saw a sharp rally. It reached a peak of 54,825.85 point.
The Sensex is now trading in the positive after two consecutive sessions of sharp declines. Monday’s loss of 364.91 points, or 0.67 percent, was the Sensex’s worst day.
Nifty 50, the National Stock Exchange’s broader index, traded 0.47 percent higher at 16,378.10 point than its previous close of 16,301.85.
On Monday, the Nifty 50 lost 109.40 point or 0.67 percent.
The twins of HDFC Bank received strong buying support. HDFC Bank saw a 2 percent increase to Rs 1346.55. HDFC rose 2.08 per cent to Rs 2215.05.
IndusInd bank surged 3.15 per cent to Rs 917.40. Hindustan Unilever increased 2.78 percent to Rs 2174.45. UltraTech Cement rose 2.66 percent to Rs 6393.45. Maruti Suzuki rose 2.47 % to Rs 7541.45
Tata Steel fell 3.98 percent to Rs 1225.55 Sun Pharma declined 2.86 percent to Rs860
Reliance Industries, a heavyweight index, traded 0.38 percent lower at Rs 25257.55.