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    Closing Bell: Sensex rises 557 points, Nifty closes above 14,650

    Closing Bell: Sensex rises 557 points, Nifty closes above 14,650

    Closing Bell: Sensex rises 557 points, Nifty closes above 14,650
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    By CNBCTV18.com  IST (Updated)

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    The Sensex ended 557 points higher at 48,944 and the Nifty rose 168 points to settle at 14,653.

    Indian indices ended a percent higher on Tuesday led by gains in metals, financials, realty stocks even amid mixed global cues. The Sensex ended 557 points higher at 48,944 and the Nifty rose 168 points to settle at 14,653.
    Broader markets, meanwhile, outperformed benchmarks for the day with the midcap and smallcap indices up around 1.6 percent each.
    On the Nifty50 index, Hindalco, Tata Steel, L&T, Divi’s Labs, Bajaj Finance were the top gainers. HDFC Life, SBI Life, Maruti, NTPC, Nestle India, on the other hand, led the losses.
    All the sectors ended the day in green with Nifty Metals leading at 2.7 percent. Nifty PSU Bank also closed at 2.3 percent. Nifty Media, Nifty Private Bank, and Nifty Bank closed a percent higher.
    Metal stocks rallied on Tuesday as well, riding on a surge in steel, copper and aluminium prices. Steel prices are rallying for the past six months as the demand numbers crossed the expectations.
    “Market has been excellent in the last few months, there has been good demand,” said VR Sharma, MD of JSPL in an interview with CNBC-TV18 recently. “... This is a pent-up demand coupled with true and real demand worldwide,” he added.
    Similarly, copper is also hitting decadal highs in 2021. Its prices jumped to a 10-year high and were trading just under $10,000 per tonne on the back of supply constraints coupled with a surge in demand.
    The share price of Kotak Mahindra Bank fell on Tuesday on concerns over the Reserve Bank of India’s (RBI) new guidelines capping the tenure of MDs and CEOs of private banks.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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