Sensex surges 934 pts amid firm global cues

PTI

Mumbai, June 21

The Sensex and Nifty advanced for the second straight session on Tuesday, powered by across-the-board buying amid a bullish trend in global equities.

Titan jumps 5.92%

• Reliance Industries and IT stocks saw robust demand after their recent hammering, even as a depreciating rupee and hawkish global central banks weighed on sentiment
• Barring Nestle India, all Sensex components closed in the green. Titan rallied 5.92%, followed by SBI, TCS, HCL Technologies, Dr Reddy’s, Tata Steel and Wipro

Index major Reliance Industries and IT stocks saw robust demand after their recent hammering, even as a depreciating rupee and hawkish global central banks weighed on sentiment, traders said.

The 30-share BSE Sensex zoomed 934.23 points to settle at 52,532.07. During the day, it rallied 1,201.56 points or 2.32% to 52,799.40. Similarly, the NSE Nifty climbed 288.65 points or 1.88% to finish at 15,638.80.

Barring Nestle India, all Sensex components closed in the green. Titan rallied 5.92%, followed by SBI, TCS, HCL Technologies, Dr Reddy’s, Tata Steel, Wipro, Infosys, ITC and Tech Mahindra.

“Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market to showcase recovery. The recovery indicates that the current uncertainties of inflation and monetary policy tightening have been factored in.

“However, with the highly sensitive nature of the current equity market, even the slightest inconvenience can trigger volatility,” said Vinod Nair, Head of Research at Geojit Financial Services.

In the broader market, the BSE smallcap gauge rallied 2.99% and the midcap index jumped 2.42%.

All the BSE sectoral indices ended with gains, with oil & gas index jumping the most by 5.96%, followed by energy (4.95%), consumer durables (3.93%), metal (3.90%), realty (3.79%) and utilities (3.58%).