BSE sensex: Sensex surges 478 points to close at 38,528; Nifty settles near 11,400 – Times of India

(Representative image)

NEW DELHI: Equity indices finished higher for the second consecutive session on Tuesday with the benchmark BSE sensex rising over 450 points led by gains in banking stocks.
The 30-share BSE index closed 478 points or 1.26 per cent higher at 38,528; while, the broader NSE Nifty settled 138 points or 1.23 per cent higher at 11,385.
Ultra Cemco, Kotak Bank, ICICI Bank, Asian Paints, HDFC Bank, Titan and Maruti were the top gainers in the sensex pack rising as much as 3.34 per cent. 24 out of 30 stocks finished in green.
While Tech Mahindra, HCL Tech, Bajaj Auto, Power Grid, Sun Pharma and M&M were the only losers falling up to 1.03 per cent.
On the NSE platform, sub-indices Nifty Realty, Bank, Media and Private Bank gained up to 4.04 per cent.
According to traders, buying in index-heavyweights led benchmarks higher amid sustained foreign fund inflow. Largely positive cues from global markets too supported domestic indices, they noted.
“There have been fundraising plans, improvement in margins, most companies have improved their efficiency post lockdown and this is helping sentimentally,” Anita Gandhi, director at Arihant Capital Markets told news agency Reuters.
“Good rainfall progress is helping rural economy revival and metals and auto stocks are now seeing gains on hopes that there could be government spending for these sectors going forward,” she added.
Meanwhile, the rupee settled 12 paise higher at 74.76 (provisional) against the US dollar as heavy buying in domestic equities and weak American currency strengthened investor sentiments.
(With agency inputs)