May 7, 2021 03:15 PM
The stock markets fell backwards from the gains. The Sensex, which started the third consecutive rally, jumped over 500 points at one point, while the Nifty once again came close to 15,000 points. But due to gains from the mid-session, the Sensex ends above 49K, and the Nifty was up 78 points at 14,802. But they are trading solidly at support levels.
Bank, IT and metal stocks saw gains while auto, oil and gas stocks saw slight losses. While Tata Steel and JSW Steel were the top gainers, IndusInd Bank, SBI Life Insurance, HDFC Bank continued to gain while Tata Consumer Products, Hero MotoCorp, Bajaj Auto, Eicher Motors and BPCL continued to lose ground.
In a budget-fuelled rally, Sensex closes above 49K; Nifty above 14,600:
Indian equities extended gains, ending over 2% higher on Tuesday, as investors continued to cheer Budget announcements. Advances in global peers also helped. Tata Motors, Shree Cements, UltraTech Cement, SBI and Hindalco were among major gainers on the Nifty, while HDFC Life, Bajaj Finserv, Hero MotoCorp, Titan Company and HUL were the top losers.
At close, the Sensex ends above 49K, and the Nifty up 366.70 points or 2.57% at 14,647.90. Among sectoral indices, Nifty Auto rallied the most, over 4%, followed by Nifty PSU Bank, Nifty Realty and Nifty Financial Services, each gaining over 3%.
India’s exports grew 5.4% year-on-year to $27.24 billion in January, driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry.