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Sensex ends up 447 points, Nifty settles above 14,900, Business & Economy News

Domestic equity market benchmarks BSE Sensex and Nifty 50 have ended a per cent higher on Tuesday, extending the previous day’s gains. 

Volatility ran high in the markets as investors tracked mixed signals from global peers and avoided making fresh bets in equities amid upward move in bond yields, yet again. 

The headline S&P BSE Sensex traded in a range of 600 points and hit an intra-day high and low of 50,425 and 49,807, respectively. At close, the index was quoting at 50,297 levels, up 447 points or 0.9 per cent. 

Meanwhile, on the NSE, the Nifty50 settled above the 14,900-mark, at 14,919 levels. The index was up 157 points or 1.07 per cent from Monday’s close.

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.

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 the last week’s turmoil.

Elsewhere in Asia, bourses closed with significant gains for the second straight session after halt in sell-offs in global bond markets calmed investor sentiments.

Meanwhile, Brent Futures rose 0.71 per cent to trade at 63.76 per barrel.

On the forex market front, the rupee surged by 18 paise to close at 73.37 against the US dollar on Tuesday.

(With inputs from agencies)

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