Sensex rises 300 points on earnings optimism

Mumbai, Oct 16 The BSE Sensex on Tuesday surged 297 points to went past the key 35,000-level, proceeding with its winning-run for the third straight day in the midst of good faith ahead of quarterly earnings from heavyweights and recovery in the rupee.

Meanwhile, the rupee fortified by 25 paise to 73.58 (intra-day) against the US dollar in the forex market.

Plus, easing global crude prices and positive cues from Asian markets and a higher opening in european shares too fuelled the rally. Brent was exchanging 0.25 percent bring down at USD 80.58 a barrel on Tuesday.

The 30-share Sensex remained in the positive zone amid the session and transported somewhere in the range of 35,215.79 and 34,913.06, preceding settling 297.38 points or 0.85 percent higher at 35,162.48.

The NSE Nifty in the wake of recapturing the 10,600-stamp hit a high of 10,604.90 on the back of far reaching gains, lastly finished up 72.25 or 0.69 percent higher at 10,584.75.

Organizations like Infosys and Hero MotoCorp are announce their financial results Tuesday.

Domestic institutional speculators (DIIs) bought shares worth Rs 294.78 crore, while foreign institutional investors invested Rs 67.86 crore on Monday, according to provisional data issued by the stock exchanges.