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Sensex jumps 522 points to close at 33,826; Nifty ends above 9,950

(Representative image)

NEW DELHI: Equity indices finished in green for the fifth straight session on Tuesday with the benchmark BSE sensex rising over 500 points led by gains in financial and banking stocks, amid positive global cues.
The 30-share BSE index surged 522 points or 1.57 per cent to close at 33,826; while the broader NSE Nifty finished 153 points or 1.56 per cent higher at 9,979.
Top gainers in the sensex pack included Bajaj Finance, Kotak Bank, IndusInd Bank, HDFC, Axis Bank, Power Grid and ICICI Bank with their shares rising as much as 8.33 per cent.
While Maruti, ITC, NTPC, Nestle India and Hindustan Unilever were the top losers, falling up to 1.74 per cent.
On the NSE platform, sub-indices Nifty Realty, Private Bank and Media gained as much as 4.93 per cent.
According to analysts, gradual easing of the lockdown boosted investor sentiment which further strengthened with the buoyancy in the global markets. Besides, the news of the timely arrival of monsoon also aided the surge.
Meanwhile, Moody’s Investors Service downgraded India’s sovereign rating to ‘Baa3’ from ‘Baa2’, saying there will be challenges in implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position.
“Markets are trying to look ahead given the situation which is known from the fourth quarter results and outlook by companies. People are hoping for the reopening of the economy, which the market is trying to factor now,” Vinod Nair, head of research, Geojit Financial Services Ltd told news agency Reuters.
Besides, the rupee rebounded by 18 paise to close at 75.36 (provisional) against the US dollar after Prime Minister Narendra Modi asserted that the country will get back its economic growth.
On a net basis, foreign portfolio investors bought equities worth Rs 1,575.46 crore in the capital market on Monday, provisional exchange data showed.
(With agency inputs)

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