Despite the close with gains, the intraday movement was volatile, but all efforts by the bears were foiled. Eventually, investors grew richer by Rs 2.81 lakh crore on Tuesday. With this, investors became wealthier by nearly Rs 6 lakh crore in two consecutive sessions.
The 30-share pack Sensex advanced 447.05 points or 0.90 per cent to close at 50,296.89. Its broader peer NSE Nifty climbed 157.55 points or 1.07 per cent to 14,919.10.
“A quick recovery was seen towards the end of the session as investors hurried to buy on dips showing huge confidence and liquidity in the market. An improved outlook post-February auto sales numbers resulted in continued buying in auto stocks with the IT sector also being a major contributor in the rally,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- BPCL climbs 3% after co’s board approves sale of Assam refinery
- Bharti Airtel rises 2% after acquiring 355.45 MHz spectrum
- Volatility gauge India VIX tanks 8%
- Auto stocks continue to rally as Feb sales overshoot expectations
- Nifty PSU Bank sole sectoral loser for second straight day
