Mumbai (Maharashtra, India): Equity benchmark indices rallied 1.7 percent on Tuesday on the back of across-the-board buying amid firm cues from their Asian peers.
Foreign and domestic investors were upbeat as the incoming US administration pushed for a big stimulus, which will pump a massive amount of money into the market.
At the closing bell, the BSE S&P Sensex was up by 834 points or 1.72 percent at 49,398 while the Nifty 50 surged by 240 points or 1.65 percent to 14,521.
All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty realty jumping by 4.2 per cent, PSU bank by 2.7 per cent, financial service by 2.4 per cent and auto by 1.7 per cent.
Among stocks, Godrej Properties was up by 3.8 percent to Rs 1,407.05 per share DLF Ltd surged ahead gains of 4.4 percent to Rs 289.05.
Bajaj Finserv gained by 6.7 percent, Bajaj Finance by 5.2 percent, HDFC by 3.3 percent, Tata Motors by 5.2 percent and Adani Ports by 3.4 percent.
Hindalco and JSW Steel added gains of 3.6 per cent each while Tata Steel advanced by 2.5 per cent. However, those which lost marginally were Tech Mahindra, ITC, Wipro, Britannia and Mahindra & Mahindra.
Meanwhile, Asian shares climbed as investors wagered China’s economic strength will help underpin growth in the region.
Japan’s Nikkei bounced 1.39 percent while Hong Kong’s Hang Seng advanced 2.7 percent to a 20-month high. South Korea’s Kospi moved up by 2.61 per cent.