Sensex rallies 504 points; Nifty reclaims 11,800

ICICI Bank was the top gainer in the Sensex pack, soaring over 6 per cent, followed by SBI, HDFC, PowerGrid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto and HDFC Bank.

Equity benchmark Sensex rallied 504 points on Tuesday, tracking a strong uptick in index majors ICICI Bank, HDFC twins and SBI amid positive cues from global markets ahead of the US presidential election.

On the other hand, NTPC, Reliance Industries, Nestle India, HCL Tech and Infosys were among the laggards. (Reuters file photo)

The 30-share BSE index ended 503.55 points or 1.27 per cent higher at 40,261.13.

Similarly, the broader NSE Nifty jumped 144.35 points or 1.24 per cent to 11,813.50.

ICICI Bank was the top gainer in the Sensex pack, soaring over 6 per cent, followed by SBI, HDFC, PowerGrid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto and HDFC Bank.

On the other hand, NTPC, Reliance Industries, Nestle India, HCL Tech and Infosys were among the laggards.

According to traders, domestic equities followed the positive trend in global markets ahead of the US presidential election.

Bourses in Shanghai, Hong Kong, Seoul, and Tokyo ended with significant gains.

Stock exchanges in Europe were also trading on a positive note in early deals.

“Wall Street recovered on the eve of Election Day with investors appeared to be going by the late polls, which suggests Joe Biden leads over Donald Trump,” said Arjun Yash Mahajan Head Institutional Business at Reliance Securities.

In the forex market, the rupee settled almost flat at 74.41 against the US dollar.