Indian shares ended over a percent higher on Tuesday, as factory activity data signalled a recovery in demand after coronavirus-led disruptions. The gains were mainly supported by a rise in banking and financial stocks.
The Sensex ended 503 points higher at 40,261 while the Nifty rose 144 points to settle at 11,813. Broader markets were mixed for the day with the Nifty Midcap up 0.6 percent and Nifty Smallcap index was flat.
India’s factory activity expanded at its fastest pace in over a decade in October, a PMI showed. The sentiment was also lifted by a rise in Asian shares ahead of the US presidential elections. MSCI's broadest index of Asia-Pacific shares outside Japan added 1 percent.
ICICI Bank, Hindalco, SBI, Powergrid, and HDFC were the top gainers on the Nifty50 index while UPL, NTPC, Reliance, Nestle, and HUL led the losses.
The Nifty banking index rose 3.1 percent led by a 6.7 percent gain in ICICI Bank. The lender's shares are up for a second session after it reported upbeat earnings on Saturday.
The financials index also gained 3 percent, with heavyweight HDFC leading the gains. The stock jumped 4 percent on strong earnings.
Meanwhile, the Nifty Metal index also rose 2.1 percent and Nifty Pharma added 1.7 percent. Nifty Auto was also up 1.5 percent.
(Edited by : Pranati Deva)
First Published: IST