The 30-share BSE index gained 280.15 points or 0.56% to close at 50,051.44. The broader NSE Nifty rose 78.35 points or 0.53% to close at 14,814.75.
The equity benchmark Sensex jumped 280 points on Tuesday, following gains in the index major HDFC Bank, ICICI Bank and Reliance Industries despite a weak trend in global markets.
The 30-share BSE index gained 280.15 points or 0.56% to close at 50,051.44. The broader NSE Nifty rose 78.35 points or 0.53% to close at 14,814.75.
UltraTech Cement was the biggest gainer in the Sensex pack at around 3%, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Maruti.
On the other hand, ONGC, PowerGrid, ITC, NTPC, M&M and HDFC lagged behind.
Binod Modi, Head – Strategy, Reliance Securities, said that despite weak global cues, domestic equities gained momentum mainly due to the support of faster recovery in financial stocks.
“The Supreme Court clarified that the waiver of compound interest during the loan moratorium should be for everyone. While there is still ambiguity about who will bear the additional burden, banks are relaxed about the potential end of uncertainty about NPAs. Seen a spurt in stocks. Moving forward, “he said.
Elsewhere in Asia, nutrition ended on a negative note in Shanghai, Hong Kong, Tokyo and Seoul. Stock exchanges were also trading in Europe with losses in mid-season deals.
Meanwhile, global oil benchmark Brent crude was trading down 3.53% at $ 62.34 a barrel.
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