Sensex Ends 466 Points Higher; Energy, Auto And Realty Stocks Rally

Indian share markets extended gains as the session progressed and ended on a strong note, driven by automobile stocks and index heavyweight Reliance Industries.

Extending gains to the fourth consecutive session, benchmark indices climbed to four-month highs tracking gains in Asian peers.

The optimism surrounding vaccine research also lifted market sentiment. Last week, Bharat Biotech in collaboration with the Indian Council of Medical Research and National Institute of Virology began human trials of Covaxin, India's first indigenous vaccine.

Meanwhile, recent economic data indicated that the worst is over, and the economic activity is stabilizing.

At the closing bell, the BSE Sensex stood higher by 466 points (up 1.3%).

Meanwhile, the NSE Nifty closed higher by 156 points (up 1.5%).

The SGX Nifty was trading at 10,750, up by 181 points, at the time of writing.

The BSE Mid Cap index ended up by 1.2%, while the BSE Small Cap index ended the day up by 1.3%.

On the sectoral front, gains were largely seen in the energy sector and auto sector.

Asian stock markets traded strongly despite rising coronavirus infections. China's Shanghai Composite broke its 850-day long-term moving average and climbed 5.7%.

Hong Kong's Hang Seng was up 4% while Japan's Nikkei gained 1.8%.

The rupee is trading at 74.68 against the US$.

Gold prices are trading down by 0.1% at Rs 47,980 per 10 grams.

Speaking of the current stock market scenario, have a look at the chart below which shows how the BSE Sensex and the smallcap index have moved over the past one year:

The markets are coming out of the deep fall. An important driver of this rally is the increasing inflow from foreign institutional investors now that the global economies have opened the liquidity trap.

Moving on, market participants were tracking Tata Consultancy Services (TCS) share price.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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