Sensex rallies over 1,100 points, Nifty trading above 8,400

Sensex rallies over 1,100 points, Nifty trading above 8,400

Equity benchmark Sensex rallied over 1,100 points in early trade on Tuesday as banks, IT and auto stocks led the gains on global cues.

After hitting a high of 28,963.25, the 30-share BSE barometer was trading 1,165.92 points or 4.23% higher at 28,756.87. The NSE Nifty soared 337.20 points, or 4.17%, to 8,421.00.

IndusInd Bank, Mahindra and Mahindra, HCL Tech, ICICI Bank, Axis Bank and Infosys were the top gainers in the Sensex pack. Bajaj Finance was the sole loser.

In the previous session on Friday, Sensex ended 674.36 points or 2.39% lower at 27,590.95 and the Nifty shed 170 points, or 2.06%, to close at 8,083.80.

The market was closed on Monday on account of 'Mahavir Jayanti'.

Even as the number of cases worldwide rise, global equities traded positive Tuesday. Bourses in Shanghai, Hong Kong, Tokyo and Seoul rallied up to 2%.

Equities on Wall Street ended over 7% in overnight trade.

Over 13 lakh coronavirus cases and more than 74,000 deaths have been recorded globally.

The number of COVID-19 cases in India has crossed 4,400 and the death toll was 114, according to the Union Health Ministry.