New Delhi: Equity indices rose on Tuesday in line with the benchmark BSE Sensex Banking, auto and financial stocks rose nearly 400 points, led by gains.
The BSE 30-share index jumped 397 points, or 0.76 per cent, to end at 52,770; while the broad NSE Nifty It closed 120 points or 0.76 per cent higher at 15,812.
Top gainers in the Sensex pack included ICICI Bank, HDFC, Axis Bank, Sun Pharma, NTPC and M&M, with their shares rising as much as 2.74 per cent.
While Dr Reddy’s, HCL Tech, Tech Mahindra, Maruti and HUL fell up to 0.92 per cent.
Sub-indexes of Nifty Bank, Private Bank, Auto and Financial Services rose up to 1.48 per cent on the NSE platform.
According to experts, a rally in banking and auto stocks lifted markets as lower-than-expected rise in retail inflation in June helped ease stimulus pullback concerns amid a rally in global stocks.
“Earlier there were fears in the market that a hike in inflation would reduce the stimulus, but now those concerns have been eased,” Saurabh Jain, assistant vice president of research at SMC Global Securities Ltd, told Reuters news agency.
“The rally in the global market is also providing clarity as the delta variant is not hurting the markets in a big way,” he added.
Besides, investors were upbeat as US stocks recovered from earlier losses and all three major indices ended with record highs as strong earnings expectations for the June quarter boosted sentiments.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 745.97 crore on Monday, according to provisional exchange data.
(with inputs from agencies)
The BSE 30-share index jumped 397 points, or 0.76 per cent, to end at 52,770; while the broad NSE Nifty It closed 120 points or 0.76 per cent higher at 15,812.
Top gainers in the Sensex pack included ICICI Bank, HDFC, Axis Bank, Sun Pharma, NTPC and M&M, with their shares rising as much as 2.74 per cent.
While Dr Reddy’s, HCL Tech, Tech Mahindra, Maruti and HUL fell up to 0.92 per cent.
Sub-indexes of Nifty Bank, Private Bank, Auto and Financial Services rose up to 1.48 per cent on the NSE platform.
According to experts, a rally in banking and auto stocks lifted markets as lower-than-expected rise in retail inflation in June helped ease stimulus pullback concerns amid a rally in global stocks.
“Earlier there were fears in the market that a hike in inflation would reduce the stimulus, but now those concerns have been eased,” Saurabh Jain, assistant vice president of research at SMC Global Securities Ltd, told Reuters news agency.
“The rally in the global market is also providing clarity as the delta variant is not hurting the markets in a big way,” he added.
Besides, investors were upbeat as US stocks recovered from earlier losses and all three major indices ended with record highs as strong earnings expectations for the June quarter boosted sentiments.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 745.97 crore on Monday, according to provisional exchange data.
(with inputs from agencies)
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