Indian shares rebounded on Tuesday after a bruising coronavirus-led tumble in the previous session on concerns that a severe second wave of the novel coronavirus could dent the country’s nascent economic recovery.
Banking, auto and metal stocks surged after the Indian regulatory approved Russia’s Sputnik V COVID-19 vaccine and private weather forecaster Skymet said the upcoming monsoon season will see normal rainfall.
The benchmark 30-share BSE Sensex jumped 660.68 points, or 1.38 percent, to 48,544.06, after having fallen as much as 3.4 percent the previous day.
The broader NSE Nifty index ended up 194 points, or 1.36 percent, at 14,504.80.
Among the top gainers, Maruti Suzuki India, Bajaj Finance, Tata Motors, Bajaj FinServ and Mahindra & Mahindra rallied 5-8 percent.
Dr Reddy’s Laboratories fell almost 4 percent on profit taking after rising more than 7 percent in the previous session.
IT stocks underperformed, with TCS tumbling 3.9 percent after its March-quarter profit missed analysts’ estimates.
HCL Technologies, Wipro and Tech Mahindra fell 2-3 percent.
Sensex Soars 661 Points On Vaccine Optimism; Nifty Tops 14,500
2021-04-13 11:06:06
