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Sensex jumps 800 points; RIL, HDFC shares surge
Mumbai, January 19, 2021
The Indian equity indices surged on Tuesday, with the BSE Sensex gaining over 800 points.
The across the board rise was led by healthy buying activity in auto, finance, capital goods and oil and gas stocks.
A surge in the index-heavyweights Reliance Industries (RIL) and HDFC led the rise on Sensex, which closed at 49,398.29, higher by 834.02 points, or 1.72 per cent, from its previous close of 48,564.27.
It touched an intra-day high of 49,499.86 points.
The Nifty50 on the National Stock Exchange (NSE) closed at 14,521.15, higher 239.85 points or 1.68 per cent from its previous close.
RIL shares on the BSE reclaimed the Rs 2,000 mark on Tuesday. Its shares closed at Rs 2,016.30, higher by Rs 32.80 or 1.65 per cent.
Shares of HDFC closed at Rs 2649.80, higher by Rs 83.40 or 3.25 per cent.
Noting that the Indian equity benchmark indices bounced back strongly on Tuesday after two days of losses, Deepak Jasani, Head of Retail Research at HDFC Securities, said that the volumes on the NSE were the lowest since January 1.
"Asian shares ascended on Tuesday as investors bet China's economic strength would help support growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. European stocks inched higher on Tuesday, sustained by hopes that an economic recovery following the coronavirus pandemic is not far off," he said.