RIL, pvt banks take Sensex 558 pts up; Nifty tops 14,650; Nifty Metal up 3% – Business Standard

Stock market updates: Hefty buying in industry heavyweights such as Reliance Industries, HDFC Bank, ICICI Bank, L&T, SBI, and TCS, coupled with a decline in fresh Covid-19 cases in the country, enthralled investors on Dalal Street on Tuesday.

An across-the-board buying was visible at the bourses as bargain hunters returned to Dalal Street, helping the benchmark indices climb over 1 per cent on Tuesday. On the BSE, the 30-share Sensex settled at 48,944 levels, up 558 points while the broader Nifty50 closed at 14,653 levels, up 168 points on the NSE.

Hindalco, L&T, Tata Steel, Divis Labs, Reliance Industries, Bajaj Finance, and SBI were the top gainers on the 50-share pack, up between 3.7 per cent and 5 per cent. HDFC Life, SBI Life, Kotak Mahindra Bank, Maruti Suzuki, and Nestle India declined up to 3.6 per cent to end as top laggards.

All the key sectoral indices settled the session in the green with the Nifty Metal index ruling 2.7 per cent up. This was followed by the Nifty PSU Bank index (up 2.3 per cent) and the Nifty Bank index (1.4 per cent).

The overall market breadth remained firmly in the favour of the bulls as broader markets too participated in the rally. The S&P BSE MidCap index added 1 per cent today while the SmallCap index surged 1.5 per cent.

Aditya Birla Capital, Future Retail, Sun TV, BHEL, Vimta Labs, Alkyl Amines, and Hikal were some of the names that ruled the charts in the mid-and small-cap space.

Global markets

Shares dipped from record highs on Tuesday as optimism about the economic recovery was dented by caution ahead of the Federal Reserve’s policy decision and a raft of earning updates.

The MSCI world equity index, which tracks shares in 49 countries, fell 0.1 per cent while the MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.06 per cent.

In Europe, he pan-European STOXX 600 index slipped 0.1 per cent.

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