Sensex, Nifty close in green; Power Grid zooms by nearly 6 per cent, Bajaj Finserv declines by nearly 4 per cent

Continuing on Tuesday, bulls were witnessed maintaining their dominance over domestic benchmark indices as Sensex gained by 511.34 points or 1.37 per cent to close at 37,930.33 while Nifty rose by 140.05 points or 1.27 per cent to close at 11,162.25.

Positive global cues over stimulus expectations and vaccine hopes led to higher investor sentiments in global markets as well. At the EU summit held, leaders in the EU reached an agreement on a EUR 750 billion stimulus plan. US Congress is expected to discuss a new aid package this week. Drug making companies across the world have been signalling about positive results from their potential COVID-19 vaccines.

In Asian markets, Shanghai index, Hang Seng, Nikkei and KOSPI rallied by 0.20 per cent, 2.31 per cent, 0.73 per cent and 1.50 per cent respectively. In the European markets, FTSE 100, DAX and CAC 40 were seen trading higher by 0.52 per cent, 1.75 per cent and 1.25 per cent respectively.

Bajaj Finance reported a 19 per cent YoY decline in its Q1FY21 consolidated net profit which was at Rs 962 crore against Rs 1,195 crore in Q1FY20. The COVID-19 pandemic resulted in significantly lower business acquisitions and constraints on the recovery of pending dues from customers during the quarter. As a result of the announcement, the company's stock declined by 3.96 per cent intraday on BSE.

Sensex winners included Power Grid soaring by 6.39 per cent, HDFC rallying by 4.62 per cent, ICICI Bank gaining by 4.45 per cent, Maruti Suzuki rising by 4.19 per cent, Kotak Mahindra Bank increasing by 3.18 per cent, Axis Bank gaining by 2.86 per cent, RIL up by 2.74 per cent, etc. Sensex losers consisted of Bajaj Finserv dropping by 3.45 per cent, Asian Paints declining by 1.85 per cent, Sun Pharmaceutical Industries decreasing by 1.36 per cent, Bharti Airtel dipping by 1.20 per cent, IndusInd Bank falling by 0.96 per cent, Mahindra & Mahindra down by 0.71 per cent, etc.

The sectoral front witnessed mixed sentiments as bank, energy, auto, metal and infra rose while FMCG, healthcare and telecom remained under pressure. Amidst BSE sectoral indices, Energy index was the biggest gainer, up by 2.74 per cent followed by Bankex and Realty index gaining by 2.34 per cent and 2.03 per cent respectively. On the other hand, Telecom index was the biggest loser, down by 1.85 per cent. In the broader markets, BSE small-cap index rose by 0.24 per cent while BSE mid-cap index fell by 0.22 per cent.