Sensex, Nifty post best day in nearly 5 months

Last Updated: Tue, Oct 18, 2016 16:45 hrs
People look at a screen displaying India's FM Jaitley presenting the budget on the facade of BSE building in Mumbai

Indian shares gained most in nearly five months on Tuesday, bouncing back from the previous session's multi-month lows, led by financial stocks such as ICICI Bank, while companies including Zee Entertainment Enterprises Ltd and Tata Steel Ltd rose on short-covering.

The benchmark Sensex closed up 1.89 percent at 28,050.88, while the broader Nifty ended 1.85 percent higher at 8,677.90. Both the indexes posted their biggest gain since May 25.

Among the gainers, ICICI Bank rose 4.5 percent.

Tata Steel rose 3.44 percent after falling nearly 2 percent in the last three sessions, while Zee Entertainment gained 2.28 percent after shedding 12 percent in the previous four sessions.

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