Sensex zooms 521 points, reclaims 50K mark
Mumbai, Maharashtra: Equity benchmark indices regained momentum in afternoon deals on Thursday and closed over 1 percent higher as the new financial year began amid positive global cues.
The BSE S&P Sensex closed 521 points or 1.05 percent higher at 50,030 while the Nifty 50 edged higher by 177 points or 1.2 percent to 14,867. Except for Nifty FMCG, all sectoral indices at the National Stock Exchange (NSE) were in the green with Nifty metal up by 5.3 percent, PSU bank by 2.6 percent, and auto by 1.6 percent.
Among stocks, JSW Steel gained by 7.9 percent to Rs 505.50 per share while Hindalco added a gain of 6.5 percent to Rs 348.30. Tata Steel was up by 5.8 percent to Rs 858.90 per unit. Adani Ports edged higher by 4.4 percent, IndusInd Bank by 4.3 percent, Kotak Mahindra Bank by 2.9 percent, and ICICI Bank by 2.1 percent.
However, Hindustan Lever, Nestle India, Britannia, HDFC Bank, HDFC Life, and Tata Consultancy Services traded with a negative bias. Meanwhile, Asian stocks crept higher as investors parsed the details of a 2 trillion dollar US government spending plan and hoped for strong jobs data later in the week. Japan's Nikkei rose by 0.72 percent as a survey showed big manufacturers' mood bouncing back to pre-pandemic levels. Hong Kong's Hang Seng was up by 1.97 percent and South Korea's Kospi ticked up by 0.85 percent.
