The stock market on Tuesday snapped two-day losing streak and gained 0.5 per cent supported by auto, realty and financials after the RBI announced liquidity-boosting measures.

At close, Sensex was up 535.24 points or 0.71% at 75,901.41, and the Nifty was up 128.1 points or 0.56% at 22,957.25.

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During the day, Sensex surged 1,146.79 points or 1.52% to hit a high of 76,512.96 while Nifty climbed 308.8 points or 1.35% to 23,137.95.

On Nifty, Axis Bank, HDFC Bank, Bajaj Finserv, Shriram Finance, Bajaj Finance were among major gainers, while on the losing side were Sun Pharma, Britannia Industries, Eicher Motors, Grasim Industries, L&T.

On Sensex, Bajaj Finance, Axis Bank, Bajaj Finserv, HDFC Bank, Tata Motors, Tata Steel, ICICI Bank, Mahindra & Mahindra, Zomato, IndusInd Bank, Maruti Suzuki India and Bharti Airtel were the major gainers.

Sun Pharmaceutical, Larsen & Toubro, ITC, HCL Technologies, NTPC, Power Grid, Nestle India, Tata Consultancy Services, and Asian Paints were among the laggards.

BSE Midcap index shed 0.6%, while smallcap index fell 1.7%.

The market capitalisation of BSE-listed companies fell ₹1,30,328.02 crore to ₹4,09,00,871.46 crore or USD 4.73 trillion.

On the sectoral front, auto, bank, realty indices rose 1-2%, while capital goods, power, metal, oil & gas, FMCG, healthcare and IT down 0.5-1%.

Nifty Bank climbed the most by 1.49%, Financial Services by 1.45%, Realty by 1.27%, Auto by 1.16%, and Consumer Durables by 0.23%.

Healthcare, Industrials, Utilities, Capital Goods, Power, Oil & Gas, Energy, IT were among the laggards.

Nifty Bank was driven by RBI’s new liquidity-boosting measures, which sparked optimism about a potential rate cut in February. This drove major banking stocks higher, with HDFC Bank, ICICI Bank, and Axis Bank all seeing gains of over 3 per cent.

Shares of Union Bank of India surged 7%, led by a spike in the company’s net profit for the December quarter.

SpiceJet shares gained about 3% after the airline announced the re-induction of its grounded 737 Max aircraft into service.

TVS Motor’s shares surged over 5% after the company reported a 4.2 per cent YoY rise in net profit.

Pharmaceutical giant Cipla saw its stock price rise over 5% after reporting a 49% YoY increase in consolidated net profit.

On the global landscape, European markets traded higher in the early session with Britain’s FTSE 100 rising 0.55%, Germany’s DAX by 0.44%, and the CAC 40 in Paris by 0.33%.

In Asian markets, Tokyo ended in the negative territory and Hong Kong in the green.