Sensex spurts 447 points to reclaim the 50,000 mark
The BSE Sensex zoomed 447 points to settle above the psychological 50,000 mark on Tuesday, buoyed by hectic buying in auto, banking and IT counters amid positive domestic and global cues. The 30-share index swung nearly 633 points during the session, before ending at 50,296.89, showing a rise of 447.05 points. Likewise, the NSE Nifty climbed 157.55 points to settle at 14,919.10.
Top gainers and the losers
On the Sensex chart, M&M, NTPC, Bajaj Auto, Tech Mahindra, TCS, and Maruti emerged as top gainers. On the other hand, ONGC, HDFC, Dr. Reddy's, PowerGrid, and SBI suffered losses. Of the Sensex constituents, 25 shares ended with gains.
The rupee surged by 18 paise
Analysts said investor sentiment remained upbeat due to encouraging GDP numbers for the third quarter as well as returning of calmness in global bond markets after last week's turmoil. Elsewhere in Asia, bourses closed with significant gains and Brent futures rose 0.71 percent to trade at Rs. 63.76 per barrel. The rupee surged by 18-paise to close at Rs. 73.37 against the US dollar.
Sensex had lost over 1,000 points last week
Last week, Equity benchmark Sensex had tanked over 1,000 points on Friday, tracking losses in index majors ICICI Bank, HDFC twins, and Reliance Industries amid a negative trend in global markets. The 30-share BSE index touched a low of 49,950.75, while the broader NSE Nifty had quoted 1.79 percent down at 14,826.95.
