Sensex, Nifty rise on buying in bank stocks, positive global cues

Rising for the second straight session, equity benchmark indices Sensex and Nifty closed higher on Tuesday, helped by fag-end buying in banking counters and a firm trend in global markets.

The BSE Sensex climbed 363.99 points or 0.45% to settle at 80,369.03. Intra-day, it fell by 583.69 points to 79,421.35.

The NSE Nifty rose 127.70 points or 0.52% to 24,466.85.

Unabated buying by domestic institutional investors (DIIs) also helped in the rebound, traders said.

From the 30 Sensex pack, State Bank of India jumped 5%, followed by ICICI Bank, Bajaj Finserv, NTPC, Adani Ports, Bajaj Finance and Larsen & Toubro.

In contrast, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Mahindra & Mahindra were among the laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,228.08 crore on Monday, while DIIs bought equities worth ₹1,400.85 crore, according to exchange data.

In Asian markets, Seoul, Tokyo and Hong Kong settled in the green while Shanghai ended lower.

European markets were trading higher. The US markets ended in positive territory on Monday.

Global oil benchmark Brent crude climbed 0.66% higher at USD 71.89 a barrel.

The BSE benchmark jumped 602.75 points or 0.76% to settle at 80,005.04 on Monday. The Nifty soared 158.35 points or 0.65% to 24,339.15.