Sensex Soars Over 1,100 Points; Nifty Ends Above 22,800
(RTTNews) - Indian shares rallied on Tuesday to scale a one-month peak, mirroring firm cues from global markets after data showed U.S. retail sales rebounded marginally in February, helping ease recession concerns.
Investor sentiment was also underpinned by a weaker dollar and optimism over China's economy fueled by the latest economic stimulus initiatives to boost consumption.
The benchmark 30-share BSE Sensex jumped 1,131.31 points, or 1.53 percent, to 75,301.26 while the broader NSE Nifty index closed at 22,834.30, up 325.55 points, or 1.45 percent, from its previous close.
The BSE mid-cap and small-cap indexes surged 2.1 percent and 2.7 percent, respectively.
The market breadth was positive on the BSE, with 2,833 shares rising while 1,203 shares declined, and 123 shares ended unchanged.
Gains were seen across the board, with Tata Motors, Mahindra & Mahindra, Shriram Finance, Larsen & Toubro and ICICI Bank all climbing around 3 percent.
Shares of One97 Communications soared 7.7 percent as Paytm Money received registration certificate to be a research analyst from SEBI.
IRCON International surged 5.4 percent on winning an EPC contract worth Rs 1,096.2 crore from the Government of Meghalaya.
Coffee Day Enterprises rallied 5 percent after it agreed to clear Rs 205 crore debt in three tranches.
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