Positive global cues on the back of upbeat Chinese trade data and domestic data showing a marginal fall in retail inflation helped Indian shared end notably higher on Tuesday.
The benchmark 30-share BSE Sensex climbed 397.04 points, or 0.76 percent, to 52,769.73, with rate-sensitive banks, auto and financials leading the surge. The broader NSE Nifty index ended up 119.75 points, or 0.76 percent, at 15,812.35.
SBI Life, Axis Bank, HDFC, Grasim and ICICI Bank climbed 2-3 percent in the Nifty pack as encouraging June retail inflation data helped put stimulus pullback worries on the back burner.
Tata Motors rose over 1 percent after introducing the dark edition of Altroz, Nexon, Nexon EV and Harrier.
Among the prominent decliners, HCL Technologies, Dr Reddy’s Laboratories and Adani Ports dropped 1-2 percent.
The rupee strengthened for the third straight session, closing 9 paise higher at 74.49 (provisional) as the dollar weakened in international markets ahead of U.S. inflation data for June, due later in the day.
As the economy rebounds and due to the so-called base effect, U.S. consumer price inflation in June is expected to have risen 0.5 percent from May and 4.9 percent from a year earlier.
Market Analysis
Sensex Rallies 397 Points; Nifty Tops 15,800
2021-07-13 10:48:15
