Sensex Closes 453 Points Higher As IT Stocks Lead Rebound In Markets

Stock Market Updates: Gains in IT and pharma shares aided the bounce-back in the markets.

Domestic stock markets rose around 1 per cent in a volatile session on Tuesday, gaining some ground a day after the news of fresh lockdowns in the UK to curb the spread of a new strain of coronavirus spooked investors. The S&P BSE Sensex index jumped more than 450 points to touch 46,023.52 at the strongest level of the day, and the broader NSE Nifty 50 benchmark added more than 100 points to as high as 13,466.55. Gains in IT, pharmaceutical and energy shares aided the bounce-back in the markets.

Here are 10 things to know about the markets today:

The Sensex ended 452.73 points, or 0.99 per cent, higher at 46,006.69 and the Nifty settled at 13,466.30, up 137.9 points, or 1.03 per cent, from its previous close.
Adani Ports, HCL Technologies, Tech Mahindra, Infosys, GAIL and Wipro, ending between 2.94 per cent and 5.55 per cent higher, rose the most among 43 gainers in the Nifty basket of 50 shares.
On the other hand, Kotak Mahindra Bank, HDFC and Bajaj Finance, down 0.63-1.03 per cent each, were the top laggards in the index.
Both indices are up around 4 so far this month, boosted by record inflows from foreign institutional investors (FIIs), progress on COVID-19 vaccines globally and signs of a domestic economic recovery.
Infosys (up 3.78 per cent), TCS (1.82 per cent) and HCL Tech (5.09 per cent) were the biggest contributors to the gain in Sensex. (Also Read: Stocks To Watch)
The Nifty IT index — which tracks 12 IT services-focused stocks including TCS, Infosys and HCL Tech — ended 3.36 per cent higher, marking its best single-day percentage gain since October 5.
Airline stocks extended losses for a second straight day after the government announced suspension of all flights from the UK to the country until the end of the year following the discovery of a new strain of COVID-19.
The NSE’s India VIX index, which gauges the expectation of volatility in the near term, rose as much as 5.56 per cent during the session. Overall market breadth turned from extremely negative to positive by the end of the session. A total of 1,569 shares rose on the BSE against 1,352 that fell.
Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus, said to be up to 70 per cent more transmissible than the original, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union.
European stocks steadied on Tuesday, after heavy losses a day earlier sparked by fears over a highly infectious new strain of COVID-19, as Washington approved an $892-billion pandemic relief package.