• Source:JND
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Stock Market:  Indian equity benchmark equity indices Sensex and Nifty settled high on Tuesday after a sharp decline in the previous two sessions. The rally was led by strong buying in blue chip stocks such as Reliance Industries, L&T, and  ICICI Bank amid a strong trend in global markets. Sensex, the  30 shares benchmark of BSE, rose 234.12 points, or 0.30 per cent, to close at 78,199.11. In intraday trade, The index jumped 487.75 points, or 0.62 per cent, to 78,452.74. While, Nifty 50, the NSE's index, soared 91.85 points, or 0.39 per cent, to settle at 23,707.90.

Tata Motors, ICICI Bank,  Reliance Industries, Asian Paints, UltraTech Cement, Nestle India, Larsen & Toubro and Adani Ports were the top gainers in the 30-stock Sensex pack. In contrast, Zomato, Tata Consultancy Services, HCL Tech, Tech Mahindra, Kotak Mahindra Bank and Infosys were losers.

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

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European markets traded with gains in mid-session contracts. US markets closed mostly higher on Monday. Meanwhile, the Indian Currency fell 5 paise to 85.73 (provisional) against the US dollar on Tuesday.

Foreign institutional investors sold equities worth Rs 2,575.06 crore on Monday, according to exchange data. Global benchmark Brent crude fell 0.12 per cent to USD 76.21 per barrel.

In the previous session, the BSE benchmark had plunged 1,258.12 points, or 1.59 per cent, to close below the 78,000 level at 77,964.99. The Nifty fell 388.70 points, or 1.62 per cent, to 23,616.05.

The dollar fell 5 paise to 85.73 (provisional) against the US dollar on Tuesday as rising crude oil prices and foreign capital outflows continued to put pressure on the local unit. At the interbank foreign exchange, the rupee opened at 85.77, having touched a low of 85.80 against the greenback. The unit closed at 85.73 (provisional) against the dollar, registering a decline of 5 paise from its previous close.

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(With Inputs From PTI)