Closing Bells: The Indian Benchmark Indices Closed Tuesday Nearly 1% Higher

The Indian benchmark indices closed Tuesday nearly 1% higher on the back of rallying witnessed in the trading session’s last hours. The gains in the indices are attributed to the statement released by BioNTech in which it said that it is confident of its vaccine being efficient against the UK variant of the coronavirus.  

Also, the approval of an aid package worth $892 billion to tackle the COVID-19 crisis by the US Congress helped the market sentiment to improve. This positively impacted the Indian markets and resulted in the broad benchmark indices NSE Nifty 50 and S&P BSE Sensex to close the day higher. 

Sensex managed to add 0.99% or 452.73 points higher. It closed at 46,006.69 points. As many as 25 of the 30 stocks that constitute the Sensex index closed the green day while the remaining 5 ended the day in the red. Nine stocks closed the day over 2% higher. 

Also Read: Closing Bells: The Indian Benchmark Indices Closed Monday Over 0.3% Higher

HCL Tech and Tech Mahindra emerged as the top gainers in the index. Their share price advanced by 5.09% and 4.33% respectively. Infosys and PowerGrid saw their share price surge by 3.78% and 2.67% respectively. They were followed by Sun Pharma, Nestle India, L&T, Bharti Airtel, Asian Paints, TCS, and Dr Reddy’s. 

Kotak Bank lost the most among all Sensex stocks. Its share price went down by 0.95%. Bajaj Finance and HDFC followed it by dropping 0.56% and 0.45% respectively. The other stocks to close the day lower are Reliance and IndusInd Bank. Their share price collapsed by 0.16% and 0.13% respectively.  

NSE Nifty closed Tuesday at 13,466.30 points. It expanded by 1.03% or 137.90 points over the day. Only seven of the fifty stocks that form the Nifty index closed in the negative terrain while the remaining forty-three ended the day higher. Adani Ports and HCL Tech led the gains while Kotak Bank became the most significant loser. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

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