Sensex is up 1.9%, led by banking and IT stocks

‘A strong recovery in the Chinese market in anticipation of stimulus supported the trend’

‘A strong recovery in the Chinese market in anticipation of stimulus supported the trend’

With buy support, the S&P BSE Sensex rose 1039.80 points, or 1.86%, to 56,816.65 points on Tuesday, helped by gains in banking, financial and IT stocks.

The NSE Nifty 50 index also rose 312.35 points, or 1.87%, to 16,975.35.

“The fall in FII sales and crude oil prices reinforces the domestic trend,” said Vinod Nair, research director at Geojit Financial Services. “Positive global cues and a strong Chinese market rebound in anticipation of stimulus supported the trend,” he added.

“The world stock market has stabilized considering a 25 basis point rise [interest rates by the] US Federal Reserve; A consistent policy outlook will ease the market and we may see volatility drop,” he said.

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