The Indian stock market’s key indices rallied by around one per cent on Tuesday led by broad-based gains amid a rebound in the global equities. The 30 stock S&P BSE Sensex closed 578.51 points or 0.98 per cent higher at 59,719.74 points against its previous day’s close at 59,141.23 points.
Earlier, the Sensex started the day sharply higher at 59,556.91 points and soared past 60,000 points mark. The Sensex touched a high of 60,105.79 points in the intr-day. The Sensex rallied for the second consecutive day. The Sensex had gained 300.44 points or 0.51 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange jumped 194 points or 1.1 per cent to 17,816.25 points against its previous day’s close at 17,622.25 points. The Nifty surged to a high of 17,919.30 points in the intra-day. The Nifty had gained 91.40 points or 0.52 per cent on Monday.
Pharma stocks witnessed a strong rally. Sun Pharma surged 4.22 per cent to Rs 911.45. Dr Reddy’s Laboratories jumped 3.31 per cent to Rs 4234.60. IndusInd Bank surged 3.12 per cent to Rs 1264.20. Tata Steel jumped 2.62 per cent to Rs 105.85. Titan soared 2.10 per cent to Rs 2675.85.
Bajaj Finserv, ICICI Bank, Asian Paints, HCL Technologies, Axis Bank, HDFC and Tech Mahindra were among the major Sensex gainers. There was across-the-board buying support. Only four of the 30 scrips that are part of the benchmark Sensex closed in the red.
Nestle India slipped 0.64 per cent to Rs 18645.55. Power Grid Corporation, Infosys and Reliance Industries Limited were the other Sensex losers. Ambuja Cements rallied sharply for the second consecutive day after Adani Group, which completed the acquisition of the firm last week, announced Rs 20,000 crore fund infusion plan.
Ambuja Cements Limited jumped 1.62 per cent to Rs 574.10. The scrip had gained 9.32 per cent on Monday.