New Delhi: The Indian equity benchmarks continued to surge on Tuesday led by gains in banking and financial stocks. The 30-share BSE Sensex climbed 673 points or 1.14 per cent to close at 59,856, while the broader NSE Nifty settled 180 points or 1.02 per cent higher at 17,805. The BSE index surged more than 750 points to hit an intraday high of 59,937 from its previous close.
Helped by the ongoing rally, the market capitalisation of BSE-listed companies jumped by Rs 5.41 lakh crore to Rs 2,71,41,356.34 in just two trading sessions.
Mid- and small-cap shares jumped as Nifty Midcap 100 index climbed 0.27 per cent and Nifty Smallcap 100 index surged 0.32 per cent.
11 out of 15 sector gauges — compiled by the National Stock Exchange — settled in green. Nifty Bank, Nifty PSU Bank, Nifty Financial Services and Nifty Auto jumped as much as 1.24 per cent.
“Indian equity benchmarks continued their gaining rally boosted by energy and banking sector stocks. Sentiments would remain positive despite hike in unemployment rate as most of the Asian markets trading in green. Our research suggests that 59,400 (Sensex) may act as an important level in the market to stay positive. If the market sustained the level of 59,400, we may expect it to trade till the range of 60,000,” Gaurav Garg, Head of Research, Capitalvia Global Research Ltd told NDTV.
India’s unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) has showed.
On the stock-specific front, NTPC stood as the top Nifty gainer as the stock soared 5.16 per cent to Rs 132.50.
Shares of ONGC, SBI, PowerGrid and Titan also witnessed gains.
Private lender Yes Bank jumped as much as 3.56 per cent after it reported a growth in net advances and deposits in the December quarter.
On the flipside, Tata Motors, Coal India, Sun Pharma, Tata Consumer Products and Shree Cement fell as much as 1.66 per cent.
NTPC, SBI, PowerGrid, Titan, Reliance Industries and Bajaj Finane attracted the most gains on the BSE index with their shares rising as much as 5.56 per cent.
The overall market breadth stood positive as 1,892 shares advanced while 1,492 declined on BSE.