The Indian equity benchmarks surged on Tuesday led by gains in index heavyweights like Reliance Industries, ICICI Bank, HDFC, HDFC Bank, Bajaj Finance, Infosys and Tata Consultancy Services amid positive global cues. The Sensex rose as much as 965 points and Nifty 50 index touched an intraday high of 17,919.
Overnight, a choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve.
The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P 500 rose 0.7 per cent, climbing back from a 0.9 per cent slide. The Dow Jones Industrial Average rose 0.6 per cent and the Nasdaq composite climbed 0.8 per cent.
Back home, buying was visible across sectors as all the 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Consumer Durables index's nearly 3 per cent gain. Nifty Bank, Private Bank, Financial Services, Auto, Metal, Pharma, Realty and Healthcare indexes also rose between 2-2.5 per cent.
Mid- and Small-cap shares were also witnessing buying interest as Nifty Midcap 100 index advanced 2 per cent and Nifty Smallcap 100 index climbed 1.5 per cent.
All but one share in Nifty 50 basket were trading higher led by the Apollo Hospital's 3.5 per cent gain. Tata Motors, Cipla, Hindalco, IndusInd Bank, Eicher Motors, Tata Steel, Eicher Motors, Hero MotoCorp, HDFC Life, Titan, Bajaj Finance and Sun Pharma also rose between 2.5-3.5 per cent.
On the flipside, Grasim Industries was the only loser in Nifty 50 basket of shares.
The overall market breadth was extremely positive as 2,343 shares were advancing while 1,029 were declining on the BSE.
