Sensex rallies over 660 points
The 30-share BSE Sensex gained momentum in late-afternoon trade to close 660.68 points or 1.38 percent higher at 48,544.06.
Mumbai: Stock markets regained footing on Tuesday after the previous session’s massive selloff, tracking renewed buying interest in financial, bank and auto counters amid firm global cues. Participants also cheered the government’s decision to fast-track approval for foreign-produced COVID-19 vaccines.
Building on a positive start, the 30-share BSE Sensex gained momentum in late-afternoon trade to close 660.68 points or 1.38 percent higher at 48,544.06. On similar lines, the broader NSE Nifty surged 194 points or 1.36 percent to finish at 14,504.80.
M&M was the top gainer in the Sensex pack, rallying 8.02 percent, followed by Bajaj Finserv, Bajaj Finance, Maruti, IndusInd Bank, ICICI Bank, ONGC, and Axis Bank. On the other hand, TCS was the biggest laggard, slumping 4.21 percent, a day after reporting its March quarter results.
Dr. Reddy’s, Tech Mahindra, HCL Tech, Infosys, and Nestle India were among the other losers, shedding up to 4.18 percent. BSE auto, metal, finance, bankex, realty, and telecom indices rallied as much as 4.30 percent, while IT, tech, and healthcare indices closed with losses. Broader BSE midcap and smallcap indices spurted up to 1.46 percent.
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