Nifty & Sensex Close At 3 Month Highs.

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The Sensex and the Nifty rose more than 1 percent on Tuesday to their highest close in three months on continued foreign buying as part of a powerful rally in global equities.

Amongst the Sensex stocks, index heavyweight ITC ended up 2.73% at Rs 335.20 while HDFC Bank, ICICI Bank and SBI  ended up by 1.4 to 1.9 % each. Other Sensex gainers include, Tata Motors, Bharti Airtel, Reliance and Hero MotoCorp.

Bank shares witnessed recovery after Finance Ministry today told global rating agency Moody’s that the country’s growth story is credible and government is taking steps to deal with the fiscal issues.

Coal India, Wipro and  Mahindra & Mahindra  were among the prominent  Sensex losers.

Among other stocks, M&M Financial Services rallied 10% & Lanco Industries surged 20%.