Bargain hunters power bull charge on D-Street

The Indian equity benchmarks extended gains for a second straight session, with both key indices climbing up to 1.5 per cent on Tuesday—the sharpest single-day advance since February 4.

- ABHISHEK KUMAR

The Indian equity benchmarks extended gains for a second straight session, with both key indices climbing up to 1.5 per cent on Tuesday—the sharpest single-day advance since February 4. Investors snapped up beaten-down stocks on expectations that the markets may have bottomed out. The rally aligned with upbeat global sentiment, fuelled by stronger-than-expected retail sales in the US and China.

A weakening greenback against most global currencies further bolstered risk appetite. Robust buying in financial and consumer discretionary stocks powered the rally. The BSE Sensex jumped 1,131 points, or 1.5 per cent, to close at 75,301, while the NSE Nifty 50 gained 1.4 per cent to 22,834—its highest level in nearly a month.