Sensex surges 1,564 points; broad-based rally at Indian equities

August 30, Mumbai: The primary indexes of the Indian stock market, the Sensex and Nifty, rose by nearly 3% on Tuesday, spurred by a broad-based advance amid conflicting global indications.

The 30-stock S&P BSE Sensex rose 1564.45 points, or 2.70 percent, to 59,537.07 points, up from 57,972.62 points the previous day.

The Sensex opened substantially higher on the day, at 58,259.85 points. Buying activity increased in the afternoon session. The Sensex reached a high of 59,599.78 points intraday.

Following a severe plunge on Monday, the stock markets have recovered. On Monday, the Sensex fell 861.25 points, or 1.46 percent, as the US Federal Reserve signalled aggressive rate rises. The markets, however, have recovered from Monday’s losses.

The Nifty 50 index of the National Stock Exchange advanced 446.40 points, or 2.58 percent, to 17,759.30 points. The Nifty reached a high of 17,777.65 points intraday.

On Monday, the Nifty fell 246 points, or 1.4%.