April 15, 2021 11:09 PM
The stock markets, which had been in the red for a few days due to the corona turmoil in the country, have returned to profit. IT Stocks Rally, Shares of key sectors ended with gains for the second day in a row on the back of buying. Indices that went strong in the last session as they accelerated the process of approving foreign vaccines to overcome the shortage of corona vaccine in India have followed the same path today.
The Sensex, which started trading at 48,512 points, fell slightly and finally gained 259.62 points to close at 48,803.68. Also, the National Stock Exchange Nifty gained 76.70 points to close at 14,681.50. TCS, Cipla, ONGC, Wipro and Adani Ports were the top gainers in the Nifty, while Eicher Motors, Grasim Industries, Infosys, Maruti Suzuki and IndusInd Bank lost ground. Shares of metals and pharma gained one per cent, while banking and auto stocks lost ground.
The pan-European STOXX 600 share index edged 0.2 per cent higher, with Paris down, while Frankfurt and London eked out slim gains. In Asia, Chinese blue-chips slipped 1.3 per cent while Hong Kong’s Hang Seng Index lost 1.2 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.33 per cent and Japan’s Nikkei was down 0.8 per cent.
Against this backdrop, benchmark indices witnessed wild swings during the session today. The headline S&P BSE Sensex traded in a range of 600 points and hit an intra-day high and low of 50,425 and 49,807, respectively. At close, the index was quoting at 50,297 levels, up 447 points or 0.9 per cent.
M&M zoomed nearly 5 per cent and settled the session as the top gainer on the Sensex, followed by NTPC, Bajaj Auto, Tech M, Infosys, TCS, and Maruti Suzuki, all up in the range of 3 per cent to 4 per cent. On the downside, ONGC, HDFC, PowerGrid, Dr Reddy’s Labs, and SBI were the only losers, down 0.2 per cent to 3 per cent.
IT Stocks Rally, Meanwhile, on the NSE, the Nifty50 settled above the 14,900-mark, at 14,919 levels. The index was up 157 points or 1.07 per cent from Monday’s close.