Sensex, Nifty sparkle For Second Day; Banks, Autos lead

Apr 07 2021 03:51 PM
Sensex, Nifty sparkle For Second Day; Banks, Autos lead

Indian equities ended higher for the second consecutive day as benchmark indices saw buying interest in banking, auto and technology names.

The BSE Sensex ended 460 points higher at 49,661 while the NSE Nifty 50 end at 14,819, up by 135 points. On the NSE  Nifty index, top gainers include SBI, SBI Life, JSW Steel, Britannia and Hero Motocorp, while losers included Adani Ports, UPL, Titan Company, Tata Consumer Products and NTPC.

All sectoral indices ended today's trading session with gains. The PSU Bank index was the top sectoral gainer, ending 2 percent higher while the Nifty Bank gained close to 500 points or 1.5 percent to end at 32,991.

The Nifty Auto index was the other major sectoral gainer, ending with gains of 1.6 percent while the Nifty I.T. index ended the day with gains of 1.1 percent.

The Nifty Metal index ended higher for the eighth straight day with gains of 0.9 percent. This is the longest winning streak for the index in the last eight months. It also ended at the highest level since April 2011.

The markets cheered RBI's ultra-dovish stance and highlighted that the Covid 19 remains the biggest challenge and the central bank is better prepared to deal with the impact of the pandemic.

Meantime, the rupee fell 1.5 percent to be its biggest single-day drop since August 2019 to end at 74.56, which is the lowest level in over four months.

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