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Sensex rallies 718 points; Nifty50 ends above 10,250

File photo. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Oct 29, 2018, 04.27 PM (IST)

The stock market indices made a strong comeback on Monday.

The S&P BSE Sensex jumped 718 points or 2.15 per cent to settle at 34,067while NSE's Nifty50 index reclaimed the 10,250 mark to end at 10,251, up 221 points or 2.20 per cent. 

ICICI Bank, up 10.7 per cent at its highest close since Jan. 31, was the biggest boost to the index. The lender reported an improvement in asset quality in the second quarter on Friday.

Indiabulls Housing Finance Ltd surged 12.8 per cent while the Nifty PSU Bank index was up 8 per cent, driven by an 8 per cent jump in public-sector lending giant State Bank of India.

Meanwhile, In the afternoon trade, front-month Brent crude oil futures were trading down 46 cents, or 0.6 per cent, at $77.16 a barrel at while US West Texas Intermediate (WTI) crude futures were at $67.19 a barrel, down 40 cents, or 0.6 per cent, Reuters reported. 

Rupee, on Monday, traded 18 paise higher at 73.29 against the US dollar after ending 20 paise lower at 73.47 on Friday.

A turnaround in global cues gave hope to investors at home. European shares opened in positive territory on Monday in a tentative rebound from a sell-off, Reuters reported.