Indian shares shrugged off mixed global cues to end notably higher on Tuesday, with IT and auto stocks leading the surge.
The benchmark S&P BSE Sensex jumped 447.05 points, or 0.90 percent, to 50,296.89, extending gains for the second straight session. The broader NSE Nifty index ended up 157.55 points, or 1.07 percent, at 14,919.10.
Encouraging auto sales figures for February helped lift automakers, with Hero MotoCorp, Mahindra & Mahindra and Tata Motors rallying 4-5 percent.
Adani Ports and Special Economic Zone surged 4.1 percent on news it will develop the West Container Terminal (WCT) at Colombo Port.
HCL Technologies, Infosys, TCS, Tech Mahindra and Wipro climbed 2-4 percent.
Bharti Airtel gained 1.8 percent after the telecom major said it has acquired 355.45 MHz spectrum across sub GHz, mid band and 2300 MHz bands for Rs 18,699 crores in the latest spectrum auction.
On the flip side, ONGC lost 2.6 percent as crude prices fell on worries about slowing demand in China and amid caution ahead of an OPEC+ meeting to discuss raising output.
Power Grid Corp, Dr Reddy’s Laboratories and HDFC all fell over 1 percent.
Market Analysis
Sensex Jumps 447 Points On Fag-end Buying; Nifty Tops 14,900
2021-03-02 11:09:21
