New Delhi, April 16: Indian equity markets surged on Tuesday as investors turned bullish following fall in crude oil, lower inflation and gold prices in international markets. Analysts say this augurs well for India as it will help in bring down the current account deficit.
At 3:46 pm, the Sensex traded 387 points, or 2.11 per cent, at 18744.93. This is the biggest one-day gain for the Sensex since September, 2012.
Similarly, the wide based Nifty also rose by 71.55 points, or 1.28 per cent, at 5639.95.
The rally was led by rate sensitive stocks. The BSE Bankex surged 3 per cent, while auto and realty stocks advanced 2.5-3 per cent.
The major gained included Future Retail (+ 8.71 per cent), RelianceCommu.Ltd (+ 6.53 per cent), Indiabulls Real Esta (+ 6.01 per cent), CESC Ltd (+ 5.93 per cent) and Oriental Bank of Commerce (+ 5.63 per cent). The losers pack included Muthoot Finance (-9.44 per cent), Hind. Zinc (-4.26 per cent), Zee Entertainment (-3.82 per cent) and Jubilant Foodworks (-3.17 per cent).
Analysts are awaiting RIL's Q4 earnings given that IT major Infosys disappointed the Street with conservative sales outlook for fiscal 2013-14.
