Seeing the ease in lockdown restriction in the domestic front coupled with global indices rally the market bull charged on Tuesday’s session.
However, experts believe the rally in the market is driven by positive news with regards to New York and Spanish data on the rate of Corona infections.
The S&P BSE Sensex ended with gains of 8.9 per cent or 2,476.26 points at 30,067.21 mark. Similarly, NSE Nifty50 closed at 8792.20, up by 8.76 per cent or 708.40 points.
BSE Sensex and NSE Nifty50 witnessed its biggest one-day gain since May 2009.
Along with positive cues from the global markets, healthy buying in banking, energy and finance stocks also supported the domestic indices.
IndusInd Bank was leading the top gainers on the BSE, followed by Axis Bank, M&M and ICICI Bank.
Shares of Hindustan Unilever Ltd (HUL) ended 14.2% higher after hitting an intra-day high of ₹2,399 apiece on the BSE. All stocks on the BSE ended in green.
Similarly, all 50 constituents of NSE ended in green, including Bajaj Finance and Finserv which traded in negative until the final minutes. Of the 50 stocks 21 ended with gains over 10 per cent and above.
Pharma stocks also rallied after government decided to partially lift the ban on export of paracetamol and anti-malarial drug hydroxychloroquine in sync with its global commitment to tackle the coronavirus. Dr Reddy’s Laboratories, Torrent Pharma and Cadila closed 14-15% higher.
At 3.20 p.m., Sensex was trading at 30,128.04, higher by 2,537.09, or 9.20 per cent from the previous close of 27,590.95. It had opened at 28,898.36 and touched an intra-day high 30,157.65 and a low of 28,602.31.
The Nifty50 was trading at 8,808.65, higher by 724.85 points or 8.97 per cent from its previous close.