Indian shares rose for the second day running Wednesday, tracking firm global markets as positive U.S. vaccination news and easing worries about an imminent tapering of stimulus by the Federal Reserve raised hopes the global economy will recover faster than expected.
The benchmark 30-share BSE Sensex climbed 403.19 points, or 0.73 percent, to settle at 55,958.98, with metals, banking and financial stocks leading advances.
The broader NSE Nifty index ended at 16,624.60, up 128.15 points, or 0.78 percent, from its previous close.
Bajaj Finserv jumped 7.9 percent after it received an in-principle approval from SEBI to set up a mutual fund.
Bajaj Finance rallied 3.3 percent while ICICI Bank, SBI, HDFC Bank, Tata Steel and Tech Mahindra climbed 2-3 percent.
Infosys shares ended down over 1 percent after having hit a fresh record high of Rs 1,755.60 apiece on BSE earlier, taking the total market capitalization to $100 billion.
Zomato dropped 1.5 percent to extend declines on concerns over its valuations.
Shares of Kabra Extrusiontechnik soared 14.7 percent. The manufacturer of plastic extrusion machinery announced that its battery division, Battrixx, received its single largest order to supply 8000 battery packs for Joy E-Bike (electric two-wheelers) produced by WardWizard.
Market Analysis
Sensex Rallies 403 Points; Nifty Tops 16,600
2021-08-24 10:53:48
