Indian equity indices on Tuesday rose for the second day in a row, powered by rise in metal and energy firms. Despite the modest market debut of Life Insurance Corporation of India (LIC), the domestic indices gained strongly.
LIC shares were listed at an 8.62 percent discount to the issue price of 949 in early trade. On the BSE, the stock finished 8.04 percent lower at 872.70. On the first day of trading on the NSE, LIC fell 8.01 percent to Rs. 873.
The 30-share BSE Sensex rose 1,345 points, or 2.54%, to close at 54,318, while the NSE Nifty gained 417 points, or 2.63 percent, to conclude at 16,259. Mid- and small-cap stocks ended the day on a high note, with the Nifty Midcap 100 up 2.73 percent and small-cap up 3.36 percent.
The National Stock Exchange's 15 sector indices all finished the day in the green. The Nifty Metal and Nifty Oil & Gas sub-indices both outpaced the index, advancing 6.86% and 3.68%, respectively. Hindalco was the top gainer on the stock market, jumping 9.80% to 429.25. The gainers included Tata Steel, Coal India, JSW Steel, and ONGC. On the BSE, the overall market breadth was positive, with 2,627 shares rising and 713 falling.
All Sensex components ended the day with advances. Tata Steel, Reliance Industries, ITC, Wipro, ICICI Bank, HCL Tech, L&T, Maruti, Bajaj Finance, Titan, SBI, and TCS were among the top gainers on the 30-share BSE index.
Meanwhile, ahead of their quarterly earnings results, Bharti Airtel and Indian Oil Corp surged 1.79 percent and 1.80 percent, respectively.