Markets jump 1.5% on positive global cues, bargain hunting; rupee rallies

News Snapshot:

Domestic stock markets broke out of a week-long consolidation on Tuesday, surging nearly 1.5 per cent and reinforcing the recovery momentum. The BSE Sensex jumped by 1,131 points to regain the 75,000 level at 75,301.26 and the NSE Nifty index gained 325 points to 22,834.30 in bargain hunting at cheap valuations amid positive global cues. The broader market also remained bullish with Mid-cap Index rising 2.10 per cent and the Small-cap Index soaring 2.73 per cent. The rally was led by sectors like real estate, auto, capital goods, consumer durables, power and banking. Vishnu Kant Upadhyay, AVP – research &...