Indian shares shrugged off weak global cues to end higher on Tuesday, with financials posting broad-based gains after the Supreme Court of India ruled in favor of waiving compound interest and rejected pleas by various trade associations to extend the loan moratorium that ended in August last year.
A sharp fall in European trade on demand concerns and government measures to expand the vaccination drive in the country also offered some support.
The government said today that it will now allow all citizens above the age of 45 to get vaccinated from April 1.
At present, only citizens who are above 60 and those over 45 with other illnesses are allowed to get vaccination.
The benchmark S&P BSE Sensex climbed 280.15 points, or 0.56 percent, to 50,051.44 despite rising fears of the second wave of the pandemic impacting GDP growth in FY22.
The broader NSE Nifty index rose 78.35 points, or 0.53 percent, to 14,814.75.
IndusInd Bank, HDFC Bank, Divis Laboratories, UltraTech Cement and Shree Cement rallied 2-5 percent in the Nifty pack, while ITC, GAIL, Power Grid Corp, ONGC and Hindalco all fell around 2 percent.
Adani Ports and Special Economic Zone jumped over 2 percent after the company said it will acquire controlling interest in Gangavaram Port Ltd from DVS Raju and family for Rs 3,604 crore.
Market Analysis
Sensex, Nifty End Modestly Higher
2021-03-23 11:07:15
