The Sensex rose 245 points on Tuesday morning after bank shares soared, taking it to 28,777, while the Nifty50 jumped up 67 points to 8,876. According to Economic Times, the Sensex touched a 52-week high of 28,785.71 at 9.20 am. Overall, there were 1,371 gainers and 468 losers on the Bombay Stock Exchange on Tuesday morning.
Among the top gainers were HDFC Bank, Axis Bank, State Bank of India, ICICI Bank, Reliance Industries, Tata Motors, Maruti Suzuki and Asian Paints, reported Business Standard. According to Economic Times, the Nifty soared high because of gains in stocks of oil and gas, realty, capital goods, auto and consumer durable. The major losers were Bharti Airtel, Coal India and Wipro.
According to analysts, bank shares went up after chances of an interest rate hike by the United States Federal Reserve in the near future looked slim. The appointment of new Reserve Bank of India Governor Urjit Patel on Monday may also have contributed to a firm market.
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