Sensex, Nifty shine; Future Retail zooms by over 4 per cent, Bharat Electronics up by nearly 4 per cent

Ending a four-day losing streak, bulls made a comeback on Tuesday as Sensex gained by 748.31 points or 2.03 per cent to close at 37,687.91 while its NSE counterpart, Nifty rose by 211.25 points or 1.94 per cent to settle at 11,102.85.

In global markets, investor sentiments remained positive after Reserve Bank of Australia (RBA) announced about continuing its current policy settings. Additionally, the country's retail sales data for the month of June showed 2.7 per cent growth compared to that of May. But a major boost for investor sentiments was because of positive US manufacturing data and gains in tech stocks. Asian indices such as Shanghai index, Hang Seng, Nikkei and KOSPI rose by 0.11 per cent, 2 per cent, 1.70 per cent and 1.29 per cent respectively. European indices such as FTSE 100 and CAC 40 were seen trading higher by 0.02 per cent and 0.055 per cent respectively whereas DAX was trading in the negative territory down by 0.46 per cent.

Along with strong global cues, positive movements such as the approval from Reserve Bank of India (RBI) for appointment of Sashidhar Jagdishan as Managing Director and CEO of HDFC Bank for a three-year period in place of Aditya Puri, worked as a boost for the domestic benchmark indices. As a result, shares of HDFC Bank jumped by 3.94 per cent on BSE.

Shares of RIL soared by 7.10 per cent on BSE after market reports suggested that the company might be closing a deal with Future Group to acquire the latter's retail business.

Sensex winners included Maruti Suzuki increasing by 3.16 per cent, Axis Bank rising by 2.77 per cent, HDFC gaining by 2.25 per cent, ICICI Bank up by 2.23 per cent, etc. Sensex losers consisted of Tech Mahindra dropping by 2.75 per cent, IndusInd Bank declining by 2.11 per cent, HCL Technologies dipping by 1.96 per cent, UltraTech Cement down by 0.91 per cent, etc.

Amongst sectoral indices on BSE, Energy index was the biggest gainer, up by 5.60 per cent while IT index was the biggest loser, down by 0.73 per cent.