Sensex soars 521 points to reclaim 28,000-level; ICICI Bank up 4.5%

Zee Media Bureau

New Delhi: Sensex on Tuesday bounched back from a 3-month low and gained 521 points to reclaim the 28,000 level, led by stocks such as ICICI Bank and Tata Steel.

This is the most one-day gain in shares by the benchmark Sensex in almost five months.

The benchmark Sensex closed up 1.89 percent at 28,050.88, while the broader Nifty ended 1.85 percent higher at 8,677.90. Both the indexes posted their biggest gain since May 25.

Among the gainers, ICICI Bank rose the most at 4.5 percent while Tata Steel rose by 3.44 percent.

Zee Entertainment gained 2.28 percent after shedding 12 percent in the previous four sessions.

On Monday, Sensex slumped to a 3-month low of 27,529.97, lowest close since July 8, after falling 143.63 points during the day on muted Q2 earnings and US rate cut fears.