Indian stocks rose for a fifth straight session on Tuesday, led by financials, auto and energy stocks. The sentiment remained upbeat as hopes for a COVID-19 vaccine and strong earnings momentum eclipsed fears over surging domestic cases.
The Sensex ended 511 points higher at 37,930 while the Nifty rose 140 points to settle at 11,162. Index heavyweights RIL, HDFC, ICICI Bank, Kotak Bank and Maruti contributed the most to the gains.
Meanwhile, Asian shares rose further on hopes that vaccines against the COVID-19 disease might be ready by the end of the year, following promising early data from trials of three candidates.
On the Nifty50 index, Powergrid, IOC, BPCL, Eicher Motors and HDFC were the top gainers while Bajaj Finance, Bajaj Finserv, Britannia, Asian Paints and Bharti Infratel led the losses.
All sectors, except Nifty FMCG and Nifty Pharma, were positive for the day. Nifty Energy surged the most, up over 3 percent followed by Nifty Bank and Nifty Fin Services, which rose 2 percent each. Nifty Auto also surged over 1.5 percent for the day.
The Nifty PSU Bank Index, which tracks state-owned lenders, also rose 2 percent after Reuters reported that India is looking to privatise more than half of its state-owned banks.
SBI Cards stock price surged over 3 percent after the country's second-largest credit card company reported robust results for the June quarter.
First Published: IST