The unsettling pace of US bond yields and a surge in Covid-19 cases worldwide sent global markets deep in the red. However, the domestic equity market managed to buck the trend.
The 30-share pack Sensex climbed 641.72 points or 1.30 per cent to close at 49,858.24. The index gyrated in a 1,417-point range during the session. Its broader peer NSE Nifty advanced 186.15 points or 1.28 per cent to settle at 14,744.
“The highly volatile domestic markets witnessed a smart recovery from its morning weakness and was swinging between gains and losses during the day owing to strong buying seen in FMCG, pharma and energy stocks. However, auto stocks were under pressure after the announcement of the government’s new scrapping policy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- ITC rallies for third straight day, climbs 3% on MS report
- Easy Trip Planners debuts at 13.5% premium mocking lofty GMP
- Future Retail plunges 10% after Delhi HC upholds arbitration award
- RIL unaffected by court decision, gains 4%
- Nifty Realty sole sectoral loser, falls 0.53%; metal biggest gainer
