Indian benchmark indices surged on Tuesday following the historic summit between United States President Donald Trump and North Korean leader Kim Jong-un in Singapore. The BSE Sensex ended on a four-month high at 35,693 – 209 points higher. The National Stock Exchange Nifty settled at 10,843, up 56 points.
The stock markets also performed well ahead of the release of Index of Industrial Production and Consumer Price Index data later in the day.
Dr Reddy Labs was the top gainer on the Sensex, rising over 5%, followed by SBI (3.36%), IndusInd Bank (+2.41%) and Hindustan Unilever (+2.41%). Meanwhile, pharmaceutical company Lupin Limited performed the best on Nifty 50, followed by Dr Reddy Labs, SBI and IndusInd Bank.
Bharti Airtel was the biggest loser on both the bourses. While Hindalco Industries, Tata Steel and Eicher Motors performed badly on Nifty 50, Coal India, ONGC and Yes Bank were the top losers on Sensex.
On the Asian market, the Hong Kong Hang Seng gained over 39 points while Nikkei 225 surged more than 74 points.
On Tuesday, Trump said his meeting with Kim was “very, very good”. The two leaders signed a documents and have agreed to establish new relations.