Sensex rises about 1 pct, rebounding from 3-1/2 month closing low

MUMBAI (Reuters) - The BSE Sensex and Nifty rose about 1 percent on Tuesday, recovering from their lowest close in 3-1/2 months in the previous session, as blue-chip stocks such as ICICI Bank surged on value-buying.

Gains were also helped by short-covering ahead of derivatives expiry on Thursday.

The Sensex closed 0.81 percent higher, while the broader Nifty rose 0.87 percent.

Both the indexes had closed at their lowest level since Jan. 7 on Monday and the Nifty fell below its 200-day moving average for the first time in 15 months.

ICICI Bank's shares rose 8.1 percent to mark their biggest daily gain since September 2013.

 

Also, Maruti Suzuki India rose 8.1 percent adding to Monday's 3 percent gain after its January-March earnings beat estimates.

(Reporting by Abhishek Vishnoi; Editing by Anand Basu)