The Bombay Stock Exchange Sensex ended over 213 points higher on Tuesday at 31,497.38. The National Stock Exchange Nifty also rose 70.90 points to close at 9,859.50.
There was optimistic buying by domestic financial institutions ahead of the Reserve Bank of India’s two-day monetary policy review meeting, PTI reported. The decision is due on Wednesday.
Automobile stocks surged on Tuesday after car makers released sales figures, which showed that year-on-year sales grew in September. Automakers said they had drawn in a lot of customers because of Navratri, Dussehra and Diwali, as well as the recent release of new car models.
Tata Motors DVR, Tata Motors, Asian Paints, Reliance Industries and Bajaj Auto performed the best on the Sensex. Shares of Maruti Suzuki, Bharti Airtel, Bhel, the State Bank of India and Cipla declined the most on the BSE index.
On the Nifty, Gail, Bharti Infratel, Indiabulls Housing Finance, UPL and Reliance Industries gained the most. The top five losers were the Power Grid Corporation, Bharti Airtel, Cipla, Maruti Suzuki and SBI.
Other Asian markets also surged on Tuesday. The Hong Kong Hang Seng rose by 2% to close nearly 619 points up. Japan’s Nikkei 225 surged 1.05% to finish 213.29 points higher. The Shanghai SE Corporate Index ended nine points up. The Taiwan TSEC 50 Index closed over four points higher.
The rupee opened at 65.63 a dollar and had appreciated to 65.49 per dollar at 4.16 pm.