Sensex rises over 600 points to reclaim 50,000-mark, Nifty above 15,000

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Sensex rises over 600 points to reclaim 50,000-mark, Nifty above 15,000

Equity benchmark Sensex soared over 600 points in early commerce on Tuesday, led by positive factors in index majors HDFC twins, ICICI Bank and Infosys amid a optimistic pattern in international markets. Topping the 50,000 mark within the opening session, the 30-share BSE index was buying and selling 601 points or 1.21 per cent increased at 50,181.73.

Similarly, the broader NSE Nifty rose 178.40 points or 1.20 per cent to 15,101.55.

All Sensex elements had been buying and selling within the optimistic terrain, with Bajaj Finance advancing over 3 per cent, adopted by IndusInd Bank, Axis Bank, PowerGrid, HDFC Bank, Bajaj Auto and ICICI Bank.

In the earlier session, Sensex zoomed 848.18 points or 1.74 per cent to finish at 49,580.73; and Nifty surged 245.35 points or 1.67 per cent to settle at 14,923.15. Foreign institutional buyers (FIIs) had been internet sellers within the capital market as they offloaded shares value Rs 2,255.84 crore on Monday, as per provisional change knowledge.

According to V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the optimistic set off for the market now’s the steadily declining recent COVID circumstances and the steadily rising restoration charges.

“The latest numbers (2.62 lakh fresh cases and 4.22 lakh recoveries) indicate a continuation of this positive trend. The market is discounting progressive lifting of the widespread lockdowns starting in early June. Even though growth and earnings will be impacted in Q1, smart recovery can be expected in the subsequent quarters,” he mentioned.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul had been buying and selling on a optimistic observe in mid-session offers.

Equities on Wall Street ended with losses in in a single day commerce. Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.39 per cent increased at USD 69.73 per barrel.

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