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Equity benchmark Sensex jumped over 300 points in the opening session on Tuesday tracking gains in index majors Reliance Industries, ICICI Bank and L&T.
After touching a high of 50,128.85 in early trade, the 30-share BSE index was trading 260.39 points or 0.52 per cent higher at 50,004.71.
After a similar movement, the broader NSE Nifty was quoting 81.50 points or 0.56 per cent up at 14,757.20.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by L&T, Bajaj Finance, Bajaj Finserv, ICICI Bank, Reliance Industries, Axis Bank and IndusInd Bank.
On the other hand, Asian Paints, Kotak Bank, Bajaj Auto, Maruti and HDFC were among the laggards.
In the previous session, Sensex tumbled 1,145.44 points or 2.25 per cent to close at 49,744.32, and Nifty sank 306.05 points or 2.04 per cent to finish at 14,675.70.
Foreign institutional investors turned net sellers in the capital market as they offloaded shares worth Rs 893.25 crore on Monday, as per exchange data.
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