Sensex ends 375 points higher as low level buying, firm global cues lift D-St

NEW DELHI: Domestic equity benchmarks snapped a two-day losing streak on Thursday thanks to low level buying and firm global cues lifting the morale even as the pandemic worsened with India recording its biggest ever daily caseload tally.

During the session, the steely resolve displayed by metal stocks yet again was the key highlight, said an analyst. Banking stocks were also in demand, as India is set to vaccinate all adults, which may lower the risks.

The 30-share pack Sensex advanced 374.87 points or 0.79 per cent to close at 48,080.67. The index gyrated 876.17 points during the session. Its broader peer NSE Nifty added 109.75 points or 0.77 per cent to settle at 14,406.15.

“The market has been going through a correction phase following increasing Covid-19 cases, in spite of optimism about the vaccination drive. Though the earnings outcome is expected to trigger stock-specific movements in the coming days, the broader movement in the market will depend on fall in Covid cases,” said Vinod Nair, Head of Research at Geojit Financial Services.

Market at glance

  • Indiabulls Housing soars 7% as company enters partnership with HDFC
  • ICICI Securities climbs 6% after brokerage reports doubling of Q4 profit
  • L&T ends in green after firm bags ‘significant’ order in Saudi
  • ICICI Bank surges 4% ahead of March quarter earnings
  • Fear gauge India VIX climbs 3% to 23.43
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