Sensex, Nifty Gain For Third Session In A Row Led By IT Stocks

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The S&P BSE Sensex and NSE Nifty 50 indexes gained for third session in a row on Tuesday as a slowdown in daily coronavirus cases raised hopes that the government will further ease restrictions. The Sensex rose as much as 300 points and Nifty touched an intraday high of 11,949. HDFC Bank, Infosys, HCL Technologies, TCS and Asian Paints were among the top movers in the Sensex.

The Sensex ended 113 points or 0.28 per cent higher at 40,544 and Nifty advanced 24 points or 0.2 per cent to close at 11,897.

COVID-19 cases in India are decreasing after a peak in mid-September, with the world’s second-worst affected country reporting a near three-month low of 46,790 new infections in the last 24 hours.

“Declines in daily COVID-19 cases and deaths has given some comfort that there could be further relaxations to the economy,” said Siddharth Purohit, an analyst at SMC Institutional Equities told news agency Reuters.

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Realty index’s over 4 per cent gain. Information Technology, media, auto and pharma shares also witnessed buying interest.

On the other hand, Nifty PSU Bank, FMCG and metal shares witnessed selling pressure.

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