The S&P BSE Sensex and NSE Nifty 50 indices registered sharp gains on Tuesday led by strength in auto shares. The Sensex rose as much as 666.81 points to touch 39,917.01 and the Nifty 50 index surged as much as 182.25 points to 11,809.40 - levels last seen on July 5. Gains across sectors - led by auto, metal and banking stocks - pushed the markets higher. However, the markets trimmed some of the gains by the end of the session, with the Sensex closing 581.64 points, or 1.48 per cent, higher at 39,831.84 and the NSE Nifty settling at 11,786.85, up 159.70 points from the previous close.
Tata Motors were the top gainer on both benchmark indices. Other prominent gainers on the Nifty 50 basket of shares index were JSW Steel, Tata Steel, Yes Bank and Maruti Suzuki India, closing between 4.42 per cent and 6.68 per cent higher. Reliance Industries, TCS and Axis Bank were the top contributors to the upmove in Sensex.
The Nifty Auto index - comprising shares in manufacturers of cars, motorcycles, heavy vehicles, auto ancillaries and tyres - settled 4.29 per cent higher.
Tata Motors shares ended higher for the third straight session after the carmaker reported its financial results for Q2.
The Nifty Bank index - comprising shares of 12 major lenders in the country - closed 1.21 per cent higher.