Mumbai: Shares rose over 2 per cent on Tuesday, boosted by a surge in banks, metal and information technology companies, while upbeat quarterly updates from companies lifted investor sentiment ahead of the corporate earnings season.
The NSE Nifty 50 index rose 2.3 per cent to 17,274.30, while the S&P BSE Sensex gained 2.3 per cent to 58,065.47. The indexes saw their sharpest one-day gain since August 30.
Global stocks climbed for a second day on Tuesday, adding heft to the rally in Indian markets. The heavyweight Nifty bank index rose 2.8 per cent, while the metals index and IT index surged 3.1 per cent and 2.9 per cent, respectively.
IndusInd Bank shares added 5.5 per cent after it posted an 18 per cent jump in net advances in the second quarter. It was the top gainer in Nifty 50 index.
Foreign institutional investors (FII) turned net buyers in the beginning of the week, purchasing 5.91 billion rupees ($72.48 million) worth of domestic equities on Monday, provisional data available with the National Stock Exchange showed.