Sensex rises on energy, bank rally

Mumbai: The Sensex on Tuesday recouped nearly 332 points following robust buying in energy, infra and banking stocks amid easing crude oil prices and strong recovery in the rupee.

Similarly, the broader NSE Nifty jumped over 100 points to cross the key 10,500 level.

However, most Asian markets ended lower after a rout in tech stocks, tracking a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe haven bets amid China-US trade war worries.

Concerns about a slowdown in China and the Asian region due to US tariffs on Chinese goods and spooked investors, sparking the largest mo-nthly foreign fund outflows from Asia last mo-nth since August 2011.

However, investor sentiments in domestic markets remained upbeat due to fresh foreign fund inflows and the rupee gains. The rupee staged a strong comeback.

Besides, the global benchmark Brent crude trading 0.98 per cent lower at $69.43 per barrel helped ease concerns on the country’s current account deficit front due to oil imports.