Indian shares rose sharply on Tuesday, mirroring firm cues from global markets.
Sentiment was boosted by expectations of demand revival in top consumer China after Shanghai pledged to gradually ease its Covid lockdown and return life to normal in June.
The benchmark S&P BSE Sensex jumped 1,344.63 points, or 2.54 percent, to 54,318.47 amid broad-based buying. The broader NSE Nifty index settled at 16,259.30, up 417 points, or 2.63 percent, from its previous close.
Commodity-related stocks led the surge, with ONGC, JSW Steel, Coal India, Tata Steel and Hindalco rising 6-10 percent.
LIC shares were listed at Rs 867.20 on the BSE, a 8.6 percent discount when compared with its issue price of Rs 949 per share. The stock ended the day at Rs. 875.45.
Market Analysis
Sensex Surges 1,345 Points; Nifty Ends Above 16,250
2022-05-17 10:47:04