Indian markets surged on Tuesday due to heavy buying in several sectors, despite United States President Donald Trump’s assertion on Monday that he will end preferential trade treatment to India. A fall in global crude oil prices after China cut its 2019 economic growth target helped oil companies on the Indian stock exchange, Mint reported.
The BSE Sensex rose 378.73 points on Tuesday to close at 36,442.54, while the National Stock Exchange Nifty gained 123.95 points to finish at 10,987.45
The top gainers on the Sensex were Tata Motors, Hero Motocorp, Axis Bank, Oil and Natural Gas Corporation and Coal India. Infosys, Hindustan Unilever, Tata Consultancy Services, Power Grid Corporation, Larsen & Toubro and Yes Bank were the only stocks which declined on the 31-share index.
The biggest gainer on the Nifty was Indiabulls Housing Finance, which rose over 10%. The other stocks which rose the most were Eicher Motors, Tata Motors, Hindustan Petroleum Corporation Ltd, and Bharat Petroleum Corporation Ltd. The biggest losers were Wipro, Tech Mahindra, Infosys, Hindustan Unilever and Cipla.
The Indian rupee rose 42 paise against the US dollar to close at 70.48 on Tuesday.