Indian shares ended notably higher on Wednesday as data showed the country’s daily recoveries continued to outnumber the daily new coronavirus cases for the 13th consecutive day.
Positive cues from global markets also offered support after several Federal Reserve officials reiterated that any inflation will be transitory and the Fed will maintain its current dovish monetary policy stance.
Financials and IT stocks led the surge, while metal stocks succumbed to profit taking as the surge across commodity prices eased amid China’s warning against hoarding and speculation.
The 30-share BSE Sensex jumped 379.99 points, or 0.75 percent, to settle at 51,017.52. The broader NSE Nifty index ended up 93 points, or 0.61 percent, at 15,301.45.
The Bajaj twins, Bajaj Finserv and Bajaj Finance rallied 4.6 percent and 2.7 percent, respectively while Wipro, Grasim and Infosys all rose about 2 percent.
On the flip side, NTPC, Tata Steel, JSW Steel, Hindalco and Power Grid Corp dropped 2-3 percent.
Transport Corporation of India surged 20 percent and Indoco Remedies jumped 16.9 percent after both companies reported upbeat earnings results for the March quarter.
Sensex Ends Above 51k; Nifty Tops 15,300
2021-05-26 10:33:41
