Heavyweights lift Sensex up by 464 points

The benchmark index BSE Sensex shed its three-day losing streak to post a considerable upswing on Tuesday. Index heavyweights including Reliance, Infy, TCS and HDFC twin helped the bull run market and contributed 60 per cent to the gains on Nifty50.

Besides the activity in index heavyweights, the markets seems to be cheering the lower inflation rate as it kindles hope for a interest rate cut by RBI. The benchmark index BSE Sensex closed at 36,318.33, up by 464.77 points or 1.30 per cent, while Nifty50 closed short of the sentimental 10,900 level at 10,886.80, up by 149.20 or 1.30 per cent on Tuesday.

Among the top gaining index stocks on Sensex were Yes Bank, Infy, Vedanta, Reliance, which up by more than 3 per cent, followed by TCS and Bajaj Finance up by more than 2 per cent. The only stocks that were in the red on BSE Sensex were Power Grid, ICICI Bank and Maruti. On Nifty50, Wipro and Tech Mahindra also featured as top gainers, while Infratel closed in red.

Sectorally, the IT index gained the most and was up by 3.06 per cent, followed by Realty, Metal and Media indices which closed up by 1.79 per cent, 1.60 per cent and 1.21 per cent, respectively. All major sector indices including Nifty Bank, Auto, Pharma closed in green.