Sensex surges 776 points; energy, IT, banking, auto stocks climb

Mumbai: Snapping two consecutive sessions of losses, the Indian stock markets' key indices, Sensex and Nifty, surged by around 1.4 per cent on Tuesday, led by a strong buying support in energy, IT, banking and auto stocks.

The 30 stock S&P BSE Sensex surged 776.72 points or 1.37 per cent to 57,356.61 points against its previous day's close at 56,579.89 points. Snapping two consecutive sessions of massive losses, the benchmark Sensex started the day in the positive at 57,066.24 points and soared to a high of 57,442.24 points in the intra-day.

The Sensex had lost 1,331 points in the previous two sessions. The benchmark index had closed 617.26 points or 1.08 per cent down on Monday.

The broader Nifty 50 of the National Stock Exchange surged 246.85 points or 1.46 per cent to 17,200.80 points against its previous day's close at 16,953.95 points. The Nifty 50 had lost 218 points or 1.27 per cent on Monday.

There was strong buying support in energy, IT, auto and banking stocks.

Power Grid Corporation surged 3.93 per cent to Rs 231.65. Titan soared 3.92 per cent to Rs 2550. Mahindra & Mahindra surged 3.85 per cent to Rs 938. IndusInd Bank rose 3.36 per cent to Rs 978.65.

The index heavyweight Reliance Industries Limited surged 3 per cent to Rs 2775.70. State Bank of India soared 2.28 per cent to Rs 506.

Only four of the 30 scrips that are part of the benchmark Sensex closed in the red. Axis Bank slipped 0.72 per cent to Rs 775.05. Asian Paints, Maruti Suzuki and TCS also closed in the red.