Sensex reclaims Mt 50K after nearly 7 weeks as investors cheer slowing new infections
The S&P BSE Sensex index rose 612.60 points or 1.24 per cent to end at 50,193.33 and the broader NSE Nifty 50 benchmark settled at 15,108.10, up 184.95 points or 1.24 pre cent from its previous close.
However, selling pressure in select FMCG and PSU bank stocks limited the upside.
M&M was the top gainer in the Nifty50 universe, ending the day with a gain of 5.77 per cent. Bajaj Auto, Titan, Bajaj Finance and Adani Ports were among other top performers, finishing with gains of 3.42-5.19 per cent.
was the top laggard, down 2.34 per cent. ITC, Coal India, Dr Reddy’s and Divi’s Laboratories – closing with cuts of between 0.33 per cent and 1.13 per cent – were among other losers.
Analysts awaited more Q4 earnings reports from India Inc. Bharti Airtel will post its financial results for the last quarter of financial year 2020-21 later in the day.
Daily Covid-19 cases in the world’s second-worst pandemic-hit country after the United States rose by 2,63,533, remaining below the 3,00,000 mark first seen on Monday after April 21. However, deaths rose by a record 4,329.
A jump in commodity prices also boosted investors’ sentiment as copper and iron ore futures rose. A heady rally in metal stocks paused last week as commodity prices pulled back from record prices.
Meanwhile, equities in other Asian markets rose, shrugging off worries about an increase in regional coronavirus infections.
THIS IS A DEVELOPING STORY. MORE TO COME…
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