Domestic stock markets ended higher for second straight day on Tuesday amid gains across global markets, though investors remained cautious amid concerns about the Omicron variant of COVID-19. The 30-scrip index ended 477.2 points or 0.8 percent higher at 57,897.5 and the broader Nifty50 benchmark settled at 17,233.3, up 147 points or 0.9 percent from its previous close.
Gains across sectors, led by financial, IT and oil & gas shares, pushed the headline indices higher.
The Nifty bank was 0.3 percent up. Midcap index closed with strong gains of 1 percent.
Only 3 Nifty Stocks - Indusind Bank, ICICI & Power Grid - ended in the red. HDFC Bank, SBI and Axis Bank kept Nifty bank in the green today.
Sun Pharma ended as top gainer after getting EUA for anti-COVID pill Molnupiravir in India.
On the other hand, IndusInd Bank and PowerGrid were the laggards.
PVR slipped 4 percent after fresh restrictions were imposed in Delhi.
Market breath, meanwhile, was strongly in favour of advances with advance-decline ratio at 4:1.
On the other hand, the rupee closed at 74.65 against dollar.
The resilience of the US market (S&P 500 registered its 69th record high on Monday) and the spike in crude oil are indications that the Omicron variant, though surging, is unlikely to impact economic activity in any meaningful way, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services was quoted as saying in PTI report.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended on a positive note. Stock exchanges in Europe were also largely trading with gains in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 0.61 percent to $78.70 per barrel.
(Edited by : Anshul)
First Published: IST