Mumbai

Benchmark equity indices BSE Sensex and NSE Nifty extended their gains for a second straight session on Tuesday, ending higher by nearly 1 per cent, driven by strong buying in metal and auto stocks along with supportive global cues.

The 30-share Sensex climbed 567.99 points, or 0.75 per cent, to close at 76,070.84 after touching an intraday high of 76,304.26. The broader Nifty rose 172.35 points, or 0.74 per cent, to settle at 23,581.15.

Among Sensex constituents, Eternal led the gains with a sharp rise of 5.70 per cent. Other major gainers included Tata Steel, Mahindra & Mahindra, Bharat Electronics, Larsen & Toubro, Bharti Airtel and Maruti Suzuki.

On the other hand, Infosys, Bajaj Finance, ITC, Tata Consultancy Services and HCL Technologies were among the laggards.

In Asia, South Korea’s Kospi advanced 1.63 per cent, while Hong Kong’s Hang Seng index ended marginally higher. Japan’s Nikkei 225 and China’s Shanghai Composite closed in the red. European markets were trading in positive territory, and US markets had ended higher in the previous session.

Market experts said the rally was supported by easing volatility and sector-specific strength. A notable positive was the decline in the India VIX, which dropped around 8 per cent to below the 20 level, indicating reduced market uncertainty.

Sectorally, the automobile segment led the recovery, with the Nifty Auto index gaining about 2 per cent.

Meanwhile, Brent crude, the global oil benchmark, rose 2.44 per cent to USD 102.7 per barrel.

Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs 9,365.52 crore on Monday, while Domestic Institutional Investors (DIIs) provided support by purchasing stocks worth Rs 12,593.36 crore.

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On Monday, the Sensex had surged 938.93 points, or 1.26 per cent, to close at 75,502.85, while the Nifty had gained 257.70 points, or 1.11 per cent, to settle at 23,408.80.