Sensex Snaps 5-Day Losing Streak, Surges Over 360 Points ; Nifty At 17,278

Maruti was the top gainer in the Sensex pack, rising around 7 per cent, followed by Axis Bank, SBI, IndusInd Bank, Bharti Airtel, and NTPC

New Delhi: The key Indian equity benchmarks ended 5-session losing streak on Tuesday boosted by strong gains in Maruti, Axis Bank, and SBI.

The BSE Sensex rose 367 points to settle at 57,858 in a highly volatile trading session, while the broader NSE Nifty moved 129 points to close at 17,278.

Both the indexes, Sensex and Nifty, swung between gains and losses before settling in the positive zone during the day. Sensex and Nifty staged a strong recovery in late deals after hitting their respective intraday lows of 56,410 and 16,837.

Maruti was the top gainer in the Sensex pack, rising around 7 per cent, followed by Axis Bank, SBI, IndusInd Bank, Bharti Airtel, and NTPC.

On the other hand, Wipro, Bajaj Finserv, HDFC twins, and RIL were among the laggards.

Initially, the BSE Midcap and Smallcap indices were also in red and were down up to 2.8 per cent in the broader market.

Elsewhere in Asia, bourses in Hong Kong, Shanghai, Tokyo and Seoul ended sharply lower.

Stock exchanges in Europe were trading with significant gains in mid-session deals.

International oil benchmark Brent crude advanced 0.89 per cent to $87.04 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 3,751.58 crore on Monday, according to stock exchange data.

Meanwhile, the rupee on Tuesday depreciated by 16 paise to close at 74.76 (provisional) against the US dollar due to month-end dollar demand from oil importers and a stronger dollar in overseas markets.

Investors' weak appetite for riskier assets also weighed on the rupee. Moreover, market participants are now eyeing the US Fed's meeting outcome for further cues.

At the interbank foreign exchange market, the local currency opened at 74.60 against the greenback and witnessed an intra-day high of 74.57 and a low of 74.80 during the session.

The rupee finally settled at 74.76, down by 16 paise over its previous close of 74.60. This is the second straight session of loss for the local unit. The rupee has declined by 33 paise against the American currency in two days.