Sensex jumps 403 points, Bajaj Finserv up 7.8 pc
Aug 24, 2021
Mumbai (Maharashtra) [India], Aug 24 : Equity benchmark indices closed over 0.7 per cent higher on Tuesday with metals and banking stocks gathering most of the gains.
At the closing bell, the BSE S&P Sensex was up by 403 points or 0.73 per cent at 55,959 while the Nifty 50 rose by 128 points or 0.78 per cent to 16,625.
Sectoral indices were mixed with Nifty metal up by 2.9 per cent, realty by 1.8 per cent, private bank by 1.5 per cent and pharma by 1.3 per cent. But Nifty FMCG fell by 0.6 per cent and IT by 0.2 per cent.
Among stocks, Bajaj Finserv surged by 7.8 per cent to close at Rs 16,460 per share after receiving an in-principle approval from the Securities and Exchange Board of India (SEBI) for sponsoring a mutual fund.
Bajaj Finance too was up by 3.3 per cent while HDFC Bank rose by 2.2 per cent and State Bank of India by 1.8 per cent.
Metal majors gained with Hindalco up by 3.8 per cent and Tata Steel by 3.5 per cent. Adani Ports, Cipla, Sun Pharma, Dr Reddy's, Grasim and Tata Motors also traded higher with a margin of over 1.4 per cent.
However, FMCG stocks cracked with Nestle India and Britannia down by 1.4 per cent each, and Hindustan Unilever by 0.6 per cent. Infosys, HCL Technologies and Tata Consultancy Services too traded in the red due to profit booking.
Meanwhile, Asian stocks rose on an extended bounce on Wall Street as investors drew comfort from full approval granted to the Pfizer/BioNTech vaccine.
Japan's Nikkei climbed up by 0.87 per cent as tech stocks tracked Wall Street's gains. Hong Kong shares were higher by 2.46 per cent as bargain hunters snap up tech shares while South Korea's Kospi rose by 1.56 per cent.
