De-escalation in Indo-China border row and optimism over Covid-19 recoveries rising despite number of cases going up, kept the market upbeat on Tuesday with Larsen and Toubro and financials contributing their mite to the overall gains.
Sensex went up by 1.49 per cent or 519 points to close at 35,340 while Nifty rose by 1.55 per cent or 160 points to close at 10,471.
Engineering Major Larsen and Toubro contributed the most to the 519 point Sensex rally as it went up by 6.68 per cent after its infrastructure wing winning a contract to construct a portion of Delhi-Vadodara Expressway.
On the other hand, Financials also contributed to the Sensex’s gains. Top private lender HDFC Bank went up by 1.20 per cent while Bajaj Finance rose by 6.54 per cent. IndusInd rose by 6.29 per cent.
BSE Midcap and Smallcap rose 1.69 per cent and 1.80 per cent respectively.
However, BSE Energy closed 1.05 per cent lower, while BSE Power continued to gain for the second day on Tuesday. After registering a new high of Rs 1804.10 on Monday, Reliance Industries came down 1.55 per cent on Tuesday.
IT Major Infosys rose 2.39 per cent while Tata Consultancy Services added 0.35 per cent.
Paints Companies Asian Paints and Berger Paints advanced 1.83 per cent and 2.32 per cent respectively after they announced March quarter earnings.
Info Edge (India) went up by 6.43 per cent after the Board approved raising of funds via QIP for an aggregate amount not exceeding Rs 1875 crore.
Experts, however, said that the rapid surge in new coronavirus cases and casualties are a major cause of concern and investors would have to exercise caution over the next few days. The political and border developments between India and China would be closely monitored. Investors would also watch the expiry of derivates contracts on Thursday.
The number of Coronavirus cases in the country rose to 4,40,215 on Tuesday with 14,933 new cases reported in the last 24 hours even as the death toll went up to 14,011 as Covid-19 claimed 312 lives in the last 24 hours.
