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Sensex rises 380 points as financial, IT stocks surge; Nifty settles above 15,300 – Times of India

NEW DELHI: Equity indices jumped on Wednesday with benchmark BSE sensex rising over 350 points led by gains in financial and IT stocks.
The 30-share BSE index rose 380 points or 0.75 per cent to close at 51,018; while the broader NSE Nifty settled 93 points or 0.61 per cent higher at 15,301.
Bajaj Finserv, Bajaj Finance, Infosys, M&M, Maruti and HDFC were the top gainers in the sensex pack rising up to 4.82 per cent.
While PowerGrid, NTPC, ONGC, Kotak Bank and Dr Reddy were the major losers falling as much as 3.07 per cent.
On the NSE platform, sub-indices Nifty Realty, IT and Media gained up to 2.84 per cent.
According to experts, investors’ risk appetite improved recently due to a steady decline in daily Covid-19 cases in India.
“Overall, the market is positive because of drop in Covid-19 cases and on expectation that the economy will be further opened,” Vinod Nair, head of research at Geojit Financial Services told news agency Reuters.
“Market is hoping that localised lockdowns will be reduced in the coming weeks so the economy will be much better,” he added.
On Tuesday, India had reported its lowest daily rise in cases in more than a month.
The total tally of infections has now crossed 27 million, with deaths rising by 4,157 in the last 24 hours, according to the health ministry’s latest data released.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 959.77 crore on Tuesday, as per provisional exchange data.
(With inputs from agencies)

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