Stock Market: Sensex Zooms 1,345 Points, Nifty Tops 16,250; LIC Ends Day One 8 Per Cent Down
Stock update: On the Sensex platform, all the 30 constituents were in the green. Among them Tata Steel was the top gainer with 7.62 per cent, followed by RIL, ITC, Wipro, ICICI Bank, and others
New Delhi: Sensex and Nifty, the two equity benchmarks, on Tuesday surged sharply for the second consecutive session led by gains across all sectors.
The two indices logged their biggest intra-day rally since February 15.
The 30-share BSE Sensex rose 1,345 points to 54,318, while the broader NSE Nifty jumped 417 points to 16,259. Both the indices gained over 2 points on Tuesday.
On the Sensex platform, all the 30 constituents were in the green. Among them Tata Steel was the top gainer with 7.62 per cent, followed by RIL, ITC, Wipro, ICICI Bank, L&T, HCL Tech, Maruti, and others.
On the BSE, the overall market breadth stood positive as 2,627 shares advanced, while 713 declined.
In the broader market, the BSE Midcap and Smallcap indices added 2.5 per cent and 2.8 per cent, respectively.
On NSE, all of the 15 sector gauges settled in the positive zone. Sub-indexes Nifty Metal and Nifty Oil & Gas outperformed the index by rising as much as 6.86 per cent and 3.68 per cent, respectively.
On specific stock, Life Insurance Corporation of India’s (LIC’s) shares listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share offered to qualified institutions and non-institutional buyers.
On the National Stock Exchange, the stock opened at Rs 872, 8 per cent lower, against its issue price. During time of closing of the market, the stock stood at Rs 873 on the BSE.
In the previous trade on Monday, the BSE Sensex gained 180 points (0.34 per cent) to end at 52,973 points, while the Nifty went up by 60 points (0.38 per cent) to finish at 15,842 points.
Meanwhile, in Asia, markets were trading in the positive zone, with Hong Kong, Seoul, Tokyo, and Shanghai quoting higher.
In the US, stock exchanges had ended on a mixed note on Monday.
Global oil benchmark Brent crude dipped 0.29 per cent to $113 per barrel.
According to stock exchange data, foreign institutional investors (FIIs) continued to offload shares worth Rs 1,788.93 crore on Monday.
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