Sensex ends the session with a jump of 582 points

Indian equity indices showcased an enthusiastic performance on Tuesday by strongly rallying close to one and half percentage point in the session on the back of widespread buying by participants, tracking positive leads from Asian markets.

The markets made a positive opening, as some optimism came with the Reserve Bank's statement that continuing its northward surge, India's forex kitty has swelled by $1.039 billion to a new life-time high of $440.751 billion for the week ended October 18. Sentiment on the street further improved on World Bank group President David Malpass' statement that India must undertake financial reforms in three key areas. These are sound regulations for non-banking financial companies (NBFCs), allowing private sector banks to play a bigger role in the banking sector and deepening capital markets to aide growth. Besides, Union Steel Minister Dharmendra Pradhan said that India will spend about $1.4 trillion on its infrastructure development in the next five years.

Meanwhile, underlining substantial rise in the demand for steel in the country, Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan also has said that it is expected to increase further in the future as India embarks on becoming a $5 trillion economy by 2024. He emphasized that the demand of steel has seen substantial increase on the back of rapid economic & infrastructural development in India.

The BSE Sensex ended at 39831.84, up by 581.64 points or 1.48%. The broader indices ended in green; the BSE Mid cap index gained 1.13%, while Small cap index was up by 0.57%.

The top gaining sectoral indices on the BSE were Auto up by 4.28%, Metal up by 4.12%, Energy up by 2.00%, Industrials up by 1.98% and Consumer Disc was up by 1.76%, while Telecom down by 4.42% was the only losing indices on BSE.

The top gainers on the Sensex were Tata Motors up by 16.63%, Tata Steel up by 7.09%, Yes Bank up by 6.30%, Axis Bank was up by 4.06% and Maruti was up by 4.01%.

On the flip side, Bharti Airtel was down by 3.41%, Kotak Mahindra Bank down by 1.14%, Power Grid down by 0.64% and SBI was down by 0.55% among the top losers.