Benchmark equity indices surged on Tuesday as bulls dominated Dalal Street for a second straight day, led by strong buying interest in financial stocks, especially private sector lenders. The rise came as US Treasury Secretary Janet Yellen played down inflation fears overnight, suggesting the fears that the US $1.9 trillion relief bill could trigger a rapid rise in inflation are misplaced.
The 30-share pack Sensex added 584.41 points or 1.16 per cent to close at 51,025.48. The intraday move was volatile with a low of 50,396.10. Its broader peer NSE Nifty advanced 142.20 points or 0.95 per cent to 15,098.40.
“In a volatile day, the Indian market ended with minor positivity amid mixed global cues. Barring private banks, IT and consumer stocks, all other sectors were most impacted. Fall in US bond yields and stronger US equity futures aided Asian markets to recover from earlier losses,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- BPCL plunges nearly 5% after BPCL Trust said it would sell 4% stake
- Oil cos see profit-booking even as crude trades higher
- Fear gauge India VIX plunges 9% as nervousness among traders wanes
- HDFC twins biggest contributors to Sensex, Nifty gains
- IPO watch: Easy Trip Planners subscribed 6.6 times
