The Hindu Business Line file photo

Mumbai, India (BBN) – Market benchmark Sensex rebounded 291 points today, its biggest single session gain in nearly 6 weeks, to end at a two-week high of 29,656 ahead of RIL quarterly results, coupled with positive global cues.
Also, the NSE Nifty regained the 9,200 mark, reports The Hindu Business Line.
European markets traded higher as investors cheered the news of ‘market-friendly’ Emmanual Macron squaring off with leading far—right candidate Marine Le Pen in the French presidential election, which supported the recovery here.
The 30—share Sensex stayed in the positive terrain through the session on the back of persistent buying and shuttled between 29,681.33 and 29,392.99 before settling up 290.54 points, or 0.99 per cent, at 29,655.84, a level last seen on March 11.
The gauge had lost 57.09 points on Friday largely on profit—booking amid mixed global cues.
The NSE Nifty reclaimed the 9,200—mark by surging 98.55 points, or 1.08 per cent, to close at 9,217.95 after moving in a range of 9,225.40 and 9,130.55.
Better—than—expected earnings posted by private lender HDFC Bank last week buoyed trading sentiment, traders said.
The rupee notching up gains against the dollar also added to the winning run.
Among the BSE sectoral indices, Realty (+3.02%), Capital goods (+1.66%), Bankex (+1.27%), Auto (+1.20%), Industrials (+1.32%), Finance (+1.43%) gained the most.
Cement stocks were among the biggest gainers on the NSE index, following better-than-expected quarterly results by ACC Ltd on Friday.
ACC, Grasim, UltraTech Cements, Ambuja Cements and GAIL were the top gainers on the Nifty.
ACC gained as much as 8 per cent and was the top percentage gainer on the Nifty.
Top Sensex gainers GAIL (+3.17%), Axis Bank (+2.55%), L&T (+2.54%), HDFC Bank (+2.41%) and Maruti (+1.82%).
Sensex losers included Lupin (-3.3%), Cipla (-1.3%), NTPC (-0.5%), PowerGrid (-0.29%) and Wipro (-0.28%).
After trending down in the morning session, IT stocks bounced back in line with the overall bullish trend. US President Donald Trump’s order last week to a review the country’s visa programme to encourage hiring Americans has hit the IT shares hard. Indian firms like Tata Consultancy Services, Infosys, and Wipro are top beneficiaries of the H-1B visa programme, using it to send computer engineers to service clients in the U.S., their largest overseas market.
The French election outcome led to a mass unwinding of safe-haven trades in favour of riskier assets, although in India gains were tempered as investors awaited a slew of quarterly earnings reports, including that of Reliance Industries Ltd due later in the day.
“There’s a good chance in France for Macron to win, which is positive for global markets,” said Neeraj Dewan, director at Quantum Securities.
Macron will now face far-right leader Marine Le Pen in a May 7 runoff, with opinion polls on Sunday predicting an easy win for him in the final clash.