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Sensex surges 477 points; IT, pharma stocks climb

IT stocks like Tech Mahindra, Infosys, HCL Technologies and TCS closed with decent gains

ANI | Mumbai |

The equities markets benchmark indices climbed nearly one per cent on Tuesday on the back of strong buying support in IT, pharma, power and auto stocks.

Asian Paints and Sun Pharma surged nearly 3 per cent. There was strong buying support in IT stocks. Tech Mahindra, HCL Technologies and Infosys surged more than one per cent.

The S&P Sensex of the Bombay Stock Exchange ended the day at 57,897.48 points, 0.83 per cent or 477.24 points higher from its previous day’s close at 57,420.24 points.

Earlier the Sensex opened in the positive at 57,751.21 points and climbed to a high of 57,952.48 points and low of 57,650.29 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange closed 0.86 per cent or 147 points higher at 17,233.25 points. The Nifty 50 started the day sharply higher at 17,177.60 points and surged to a high of 17,250.25 points in the intra-day.

There was across-the-board buying support. Only two of the 30 scrips that are part of the Sensex closed in the red.

Asian Paints surged 2.85 per cent to Rs.3367.15. Sun Pharma climbed 2.59 per cent to Rs.815. Mahindra & Mahindra surged 2.53 per cent to Rs.839. UltraTech Cement 2.16 per cent higher at Rs.7410; Titan 2.05 per cent higher at Rs.2378.65; NTPC 1.89 per cent higher at Rs.124.15; Larsen & Toubro 1.78 per cent higher at Rs.1899.40 and Reliance Industries 1.18 per cent higher at Rs.2397.70 were among the major Sensex gainers.

IT stocks closed with decent gains. Tech Mahindra jumped 1.20 per cent to Rs.1806.25. Infosys rose 1.14 per cent to Rs.1887.45; HCL Technologies jumped 1.13 per cent to Rs.1281 and TCS closed 0.32 per cent higher at Rs.3707.30.

Only two of the 30 stocks that are part of the Sensex closed in the red. IndusInd Bank closed 0.29 per cent down at Rs.852.70 and Power Grid Corporation closed 0.22 per cent down at Rs.205.60.