Domestic markets on Tuesday gained for the second straight session with the Sensex rising over 361 points in its biggest spurt in about 10 weeks and the Nifty climbing 101 points to reclaim the 7,700-mark fuelled by heavy buying in bluechips, led by Tata Motors, on robust earnings.
Refinery, banking, power, consumer durable shares surged ahead of June IIP data release and a fall in crude oil prices following easing of economical global worries, also boosted the sentiment, brokers said.
The BSE Sensex resumed higher at 25,703.78 and hovered in wide range of 25,904.98 and 25,645.79 before ending the day at 25,880.77, showing a smart gain of 361.53 points of 1.42 per cent. Meanwhile rupee also rose by nine paise to end at one-week high of 61.08 against the greenback on fresh dollar selling by banks and exporters.
The rupee resumed steady at 61.17 per dollar and hovered in a range of 61.07 and 61.22 per dollar before ending at 61.08 per dollar, showing a gain of nine paise or 0.15 per cent from its last close.This is its highest closing value since 60.84 versus US dollar on August 5. Crude oil prices fell in Asia t on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq.