The Sensex rose 447 points to recapture the 50,000-level; Auto, IT shares shine

Buoyed by heavy buying at auto, banking and IT counters amid positive domestic and global cues, the BSE Sensex gained 447 points to go above the psychological 50,000 mark on Tuesday.

Before ending at 50 -296.89, the 307-share index gained 447.05 points, or 0.90%, down nearly 633 points.

Similarly, the NSE Nifty climbed 157.55 points or 1.07% to close at 14,919.10.

On the SENSEX chart, M&M, NTPC, Bajaj Auto, Tech Mahindra, TCS and Maruti topped.

On the other hand, ONGC, HDFC, Dr Reddy’s, PowerGrid and SBI suffered losses.

Among the constituents of the Sensex, 25 stocks traded.

Analysts said investor sentiment was upbeat as global bond markets returned to peace after last week’s upheaval, as well as encouraging GDP numbers for the third quarter.

Elsewhere in Asia, shares closed with significant gains for a second straight session after investors’ sentiments in global bond markets calmed down.

Meanwhile, Brent futures rose 0.71% to 63.76 per barrel.

On Tuesday, the rupee rose 18 paise to close at 73.37 against the US dollar in the foreign exchange market.