Banks, financials gain: Sensex rallies 397 points to close at 52,769; Nifty ends above 15,800 ends above

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Equity benchmark Sensex railed over 397 points on Tuesday, tracking gains in index majors ICICI Bank, HDFC twins, and Reliance Industries amid positive domestic as well as global cues. Sensex settled 397 points or 0.76% higher at 52,769, while the Nifty 50 added 119 points or 0.76% to end at 15,812.

The 30- shares BSE index ended 397.04 points or 0.76% higher at 52,769.73, and the broader NSE Nifty surged 119.75 points or 0.76% to 15,812.35. ICICI Bank was the top gainer in the Sensex pack, surging nearly 3%, followed by HDFC, Axis Bank, Sun Pharma, NTPC, and M&m.

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On the other hand, HCL Tech, Dr. Reddy, Maruthi, and Tech Mahindra were among the laggards. “Following favorable economic outcome and positive Asian markets, domestic bourses traded positive,” said Vinod Nair, Head of Research at Geojith Financial Services.

Though June CPI inflation continued to remain above RBI’s tolerance level, it eased to 6.26 percent from 6.30 percent in the previous month giving some relief to the market, he said, adding that industrial production (IIP) for May grew 29.3 percent YoY essentially due to a lower base.

Though June CPI inflation continued to remain above RBI’s tolerance level, it eased to 6.26% from 6.30% in the previous month giving some relief to the market, he said, adding that industrial production (IIP)for May grew 29.3% YoY essentially due to a lower base.

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