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Sensex up 248 pts at 49,517; Nifty at 14,563; SBI, Airtel soar 4%, RIL 3%
Stock market updates: Nifty PSU Bank index surged over 6 per cent and was the top sectoral gainer
The S&P BSE Sensex settled 248 points, or 0.5 per cent, higher at 49,517.11 levels on the BSE. Bharti Airtel and SBI each surged 4 per cent on the Sensex today, followed by gains in RIL, HDFC Bank, ITC, and NTPC, up between 1.4 per cent and 3 per cent. On the downside, Asian Paints, Titan, HUL, and Nestle slipped up to 3 per cent, putting a lid on gains.
On the NSE, the Nifty50 closed above the 14,550-mark, at 14,563.45, up 79 points or 0.5 per cent.
In the broader market, the S&P BSE MidCap index ended the day at 19,208.6 level, up 0.4 per cent. It hit a fresh life-time high of 19,301.32 in the intra-day session. The S&P BSE SmallCap index, on the other hand, closed at 18,922.73 levels, up 0.25 per cent.
On the sectoral front, Nifty PSU Bank index leaped 6 per cent on the NSE, shrugging off NPA concerns highlighted by the Reserve Bank of India a day earlier. J&K Bank and Bank of Baroda each surged 10 per cent on the NSE today. Besides, Bank of India, Canara Bank, and Indian Ban gained up to 7 per cent.
That apart, Nifty Realty index, up 3 per cent, and Nifty Auto index, up 1.3 per cent, were other sectoral gainers.
European shares were mixed on Tuesday as investors paused to assess how much worse the Covid-19 pandemic could get while waiting for a new earnings season on Wall Street to inject fresh direction.
Consolidation was the theme in Asia as well, where MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 per cent after touching an all-time high on Monday, led by a 2.6 per cent drop in South Korea as investors took some profit from a soaring Kospi.
Drugmakers lifted Japan's Nikkei to a fresh three-decade high after reports of another effective COVID-19 treatment, though the index eased to be 0.16% lower in the afternoon.
(With inputs from Reuters)