The S&P BSE Sensex index ended 256.71 points or 0.52 per cent higher at 49,206.47 and the broader NSE Nifty 50 benchymark settled at 14,823.15, up 98.35 points or 0.67 per cent from its previous close.
The Nifty Metal index was the top sectoral gainer on NSE, rising 4.73 per cent for the day.
The Nifty Bank index rose 0.23 per cent and the Nifty Financial Services gauge 0.74 per cent.
Tata Steel hit a record high and was the top gainer in the Nifty 50 universe, ending 7.51 per cent higher. Hindalco, JSW Steel, Adani Ports, SBI Life and Bajaj Finserv were among other gainers.
HDFC ended 2.70 per cent higher after the mortgage lender posted a 42 per cent jump in net profit to Rs 3,180 crore for the quarter ended March, beating analysts’ estimates.
On the other hand, Tata Consumer was the top laggard, finishing the day with a cut of 3.54 per cent. Hero MotoCorp, Bajaj Auto, Eicher Motors, UPL and Bajaj Finance were among other losers.
Flushed with liquidity, the stock market looked past a record daily rise in domestic coronavirus cases of 414,188, which took the total tally to 21.49 million.
Several states have entered lockdowns to curb the spread, causing economists to cut growth expectations for Asia’s third-largest economy.
THIS IS A DEVELOPING STORY. MORE TO COME…
