Partial economic re-start, probable COVID cure lift equities
MUMBAI: Partial opening of domestic retail markets in several states, along with positive global cues on the back of a probable new anti Covid-19 vaccine, pushed India's key stock indices higher on Tuesday.
The rise was in line with the gains in the Asian markets. Analysts cited the further opening up of the economy under lockdown 4.0 as a major factor for the upward mobility. The Sensex closed at 30,196.17, up by 167.19 points or 0.56 per cent from the previous close of 30,028.98. It had opened at 30,450.74 and touched an intra-high of 30,739.96 and a low of 30,116.82 points.
The Nifty50 closed at 8,879.10, higher by 55.85 points or 0.63 per cent from the previous close.
Sectorally, top gainers were the BSE Telecom, Power and Auto indices, while the top losers were the BSE Capital Goods, Realty and Bankex indices.
"Markets ended with decent gains on Tuesday after a sell off from the highs. The Nifty had opened on a positive note and touched a high of 9,030 before witnessing a sell off," said Deepak Jasani, Head of Retail Research at HDFC Securities.
"Technically, with the Nifty failing to sustain at the highs, the bears do seem to have an upper hand. Further downsides are likely once the immediate supports of 8,855-8,806 are broken." (IANS)