The Sensex and the Nifty defied gravity for the second straight session on Wednesday as investors scooped up IT and FMCG shares amid a firm trend in the global markets.
A recovering rupee and global drug makers’ assertion that their Covid-19 vaccines will work against a new coronavirus strain in the UK further shored up investor confidence, traders said.
The 30-share BSE Sensex rallied 437.49 points, or 0.95 per cent, to close at 46444.18.
Similarly, the broader NSE Nifty surged 134.80 points, or 1 per cent, to 13601.10.
HUL was the top gainer in the Sensex pack, spurting 2.67 per cent, followed by Infosys, M&M, SBI, ITC, IndusInd Bank, Bajaj Finance, Asian Paints, Bharti Airtel and TCS.
Only four index components closed lower — Titan, PowerGrid, NTPC and HDFC, shedding up to 0.81 per cent.
Global markets were largely positive after drug companies such as BioNTech, Moderna and AstraZeneca exuded confidence that their Covid-19 vaccines will be effective against the new virus strain reported in the UK.
However, gains were capped after US President Donald Trump hinted at vetoing the $900 billion economic aid package passed by the Congress due to the “ridiculously low” $600 aid per individual.
All sectoral indices ended with gains. BSE realty, metal, IT, telecom, tech, FMCG and industrials indices surged as much as 3.97 per cent. In the broader markets, the BSE midcap and smallcap indices rallied up to 2.65 per cent.
Elsewhere in Asia, bourses in Shanghai, Seoul, Hong Kong and Tokyo ended on a positive note. Stock exchanges in Europe were also trading with gains in early deals.
Meanwhile, the global oil benchmark Brent crude futures rose 0.12 per cent to $50.14 per barrel. The rupee snapped its two-day losing streak to settle higher by 8 paise at 73.76 against the dollar.
