Sensex jumps 685.34 points, Nifty at 22,776.10, oil below $99
Business
India's stock market had a strong Tuesday. Sensex jumped 685.34 points to 73,067.81 and Nifty rose 220.35 points to finish at 22,776.10.
Oil prices dipped below $99 a barrel, giving investors some relief.
Analysts cite oil and corporate news
Analysts say upbeat corporate news and cheaper oil helped boost confidence.
Independent market analyst Ambareesh Baliga noted that Nifty needs to stay above 22,800 for the rally to last.
Meanwhile, V K Vijayakumar, Chief Investment Strategist, Geojit Investments, flagged global worries like high US bond yields and expects the RBI might hike rates soon due to inflation.
Bank stocks were the day's stars: Kotak Bank and Axis Bank led gains as everyone waits for the RBI's next move on interest rates and growth.