MUMBAI: The Indian stock market’s key indices rallied by around 1 per cent on Tuesday, led by broad-based gains amid a rebound in the global equities.
The 30 stock S&P BSE Sensex closed 578.51 points higher at 59,719.74 points against its previous day’s close at 59,141.23 points.
Earlier, the Sensex started the day sharply higher at 59,556.91 points and soared past the 60,000 points mark. It touched a high of 60,105.79 points in the intra-day. The Sensex rallied for the second consecutive day. It had gained 300.44 points on Monday.
The broader Nifty 50 of the National Stock Exchange jumped 194 points to 17,816.25 points against its previous day’s close at 17,622.25 points. The Nifty surged to a high of 17,919.30 points in the intra-day. It had gained 91.40 points on Monday.
Pharma stocks witnessed a strong rally. Sun Pharma surged 4.22 per cent to Rs 911.45 and Dr Reddy’s Laboratories jumped 3.31 per cent to Rs 4,234.60. IndusInd Bank surged 3.12 per cent to Rs 1,264.20, Tata Steel jumped 2.62 per cent to Rs 105.85 and Titan soared 2.10 per cent to Rs 2675.85. Bajaj Finserv, ICICI Bank, Asian Paints, HCL Technologies, Axis Bank, HDFC and Tech Mahindra were among the major Sensex gainers.
There was across-the-board buying support. Only four of the 30 scrips that are part of the benchmark Sensex closed in the red. Nestle India slipped 0.64 per cent to Rs 18,645.55. Power Grid Corporation, Infosys and Reliance Industries Limited were the other Sensex losers.
Ambuja Cements rallied sharply for the second consecutive day after Adani Group, which completed the acquisition of the firm last week, announced Rs 20,000 crore fund infusion plan. Ambuja Cements Ltd jumped 1.62 per cent to Rs 574.10. The scrip had gained 9.32 per cent on Monday. (ANI)