Bulls dominate Sensex & Nifty; Nazar Technologies closes 43 per cent above issue price, MOIL gains more than 13 per cent

On Tuesday, the bulls began the week with robust energy as the domestic benchmark indices surged, led by healthy buying by investors in metal and healthcare stocks. 

Sensex surged 1,128.08 points or 2.30 per cent to settle at 50,136.58 levels thus, reclaiming its 50,000 mark. Its NSE counterpart, Nifty 50 jumped 337.80 points or 2.33 per cent to close at 14,845.10 levels. 

Indian indices outperformed Asian peers such Shanghai Composite index, Hang Seng, Nikkei and KOSPI, which rose by 0.62 per cent, 0.84 per cent, 0.16 per cent and 1.12 per cent, respectively. In Europe, indices such as FTSE 100, DAX, and CAC 40 were seen trading in the green, up by 0.35 per cent, 0.70 per cent and 0.71 per cent, respectively. 

Overall, investors remained focussed on the global vaccination programmes, ignoring the hedge fund defaults by Archegos Capital in the US. 

While currently, the domestic markets have shown some resilience, aided by positive global cues, going forward, sales data, and dented sentiments in the country due to the rising Coronavirus cases as well as concerns regarding the economic growth has kept investors cautious. 

On Tuesday, the Indian Rupee ended at 73.38 against the American Dollar, registering a fall of 87 paise over its previous closing. Meanwhile, oil prices fell on Tuesday as Suez Canal was reopened to traffic. Additional focus has been on the OPEC+ meeting, which is to be held this week to perhaps agree on an extension to supply curbs amid disappointing demand prospects. Today, the prices of the precious yellow metal - Gold slipped to their lowest in more than two weeks. Spot gold prices were down by 16.08 points or 0.94 per cent to USD 1,695.91 an ounce. 

HDFC twins and Infosys, being amongst the top index contributors on Tuesday, aided Sensex in its rally. Sensex gainers included HDFC Bank that jumped 4.11 per cent, HCL Technologies soared by 3.91 per cent, Infosys surged 3.69 per cent, NTPC inched higher by 3.60 per cent, HUL gained 3.59 per cent, Nestle India increased by 3.29 per cent, etc. 

Sensex losers were made up of Mahindra & Mahindra that plunged 0.74 per cent, Axis Bank fell by 0.41 per cent and Bharti Airtel declined by 0.17 per cent. 

Amongst sectoral indices on BSE, the IT index was the biggest gainer, jumping by 3.51 per cent. On the other hand, the realty index witnessed gains of a mere 0.02 per cent. Meanwhile, BSE Small-Cap index and BSE Mid-Cap index gained 1.30 per cent and 0.98 per cent, respectively.