Sensex Breaks 50,000 As Financial Stocks Extend Gains

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The benchmarks Sensex and Nifty opened on a good note Tuesday as financials continued to expand their gains.

All major sub-indices were trading higher with financials leading the pack. (Photo: Reuters)

Indian stocks extended their gains on Tuesday, fueled by financial data, as investor sentiment remained optimistic after the daily rise in domestic coronavirus cases remained below the 300,000 mark.

The NSE Nifty 50 Index rose 1.12% to 15,093.50 at 9:20 a.m., while the benchmark S&P BSE Sensex rose 1.13% to 50,141.21. On Monday, they added 1.67% and 1.74% respectively.

The total number of coronavirus cases in India surpassed the 25 million mark on Tuesday. Daily cases increased by 263,533, remaining below 300,000 for a second day, a level last seen on April 21, while deaths rose to a record 4,329.

All major sub-indices were trading higher with financials leading the pack.

Read | Sensex climbs nearly 900 points as financials rise

Private sector lenders HDFC Bank and ICICI Bank advanced for a second session and were the main drivers of Nifty. They added about 5% each over the last two sessions.

Auto stocks rose 1.03%, with Tata Motors rising nearly 2% ahead of its quarterly results.

Forty-eight shares of the Nifty 50 were trading in positive territory. Among the losers, Bharti Airtel fell 0.56% a day after the telecommunications operator released quarterly results.

Meanwhile, Asian stocks rose as well, ignoring concerns of an increase in regional coronavirus infections and a moderate overnight session on Wall Street.

Click here for IndiaToday.in’s full coverage of the coronavirus pandemic.


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