Domestic Stock Markets Soar More Than 1%

Domestic stock markets soared more than 1 per cent on Tuesday to extend recent gains to a fifth straight session, tracking Asian equities as hoped for a COVID-19 vaccine and a strong earnings season eclipsed fears over surging domestic coronavirus cases. The S&P BSE Sensex index jumped as much as 1.35 per cent – or 504.39 points – to touch 37,923.38 at the strongest level recorded during the session, and the broader NSE Nifty 50 benchmark climbed to as high as 11,164.45 – both their highest intraday levels since March 5.

The Sensex ended 511.34 points – or 1.37 per cent – higher at 37,930.33, and the Nifty settled at 11,168.65 for the day, up 146.45 points – or 1.33 per cent – from its previous close.

Analysts awaited more large cap companies to report their financial results for the April-June period. Axis Bank and Hindustan Unilever are scheduled to report their results later in the day.

During the five-day period, the Sensex rose 1,897.27 points – or 5.27 per cent – and the Nifty added 562.85 points (5.31 per cent).


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