Investors shrug off blues, Sensex up 172 points

The 30-share Sensex scaled session's high of 29,442 before closing up 172 points at 29,409.5

Sensex got back on its feet as it rebounded over 172 points on Tuesday to close at 29,409 and the National Stock Exchange (NSE) Nifty closed above the 9,100 mark, with banking and automobile shares doing the job on the back of upbeat global pointers.

The rush hour continued for foreign investors, and Asian recovery came on hopes US President Donald Trump's failure to push through his health-care Bill will lead to quicker action on tax reforms.

The 30-share Sensex scaled the session's high of 29,442 before closing up 172 points, or 0.6 per cent, at 29,409.5. It had lost 184 points in the previous session on weak global cues.

The 50-share NSE Nifty reclaimed the key 9,100 mark to hit a high of 9,110.4 before ending at 9,101, up 55.6 points, or 0.6 per cent. Asian stocks ended up. Europe shares moved higher, too. “The domestic market bounced back by recouping Monday's losses on positive global cues though investors will keep a close watch on US fiscal spending and tax cut plans,” said Vinod Nair, research head, Geojit Financial Services.