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Sensex Zooms 520 Pts, NiftyTops 14867; Nifty Metal Adds Over 5%

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In a volatile trading session, indices swung between gains and losses and after starting on a positive note, indices pared gains to later regain momentum. At the close, Sensex ended higher by 520 points, while Nifty topped levels of close to 14900 on gaining 1.20%. Broader markets however outperformed their headline peers with gains of 1.79% on the Nifty Midcap 100.

 

Sensex Zooms 520 Pts, NiftyTops 14867; Nifty Metal Adds Over 5%

Among Nifty sectoral indices, metal pack was the outlier in trade gaining up to 5%, followed by PSU Bank and Auto space. However, Nifty FMCG traded in the red, being the only sectoral loser at the time of writing this story.

Auto sales number for March month came in strong. Tata Motors for the March month reported the highest monthly sales in 9 years. The scrip surged up to Rs. 309.85 per share.

Likewise, Ashok Leyland also gained as much as 4 percent after reporting over 700 percent YoY rise in March sales.

PSB stocks had been up in trade with gains of up to 10 percent on government's recapitalization plan of Rs. 14500 crore via zero coupon bonds.

After record gains in the previous fiscal year, Adani group stocks continued to zoom, with Adani Total Gas, Adani Enterprises and Adani Transmission hitting new high in today's session on MSCI inclusion.

Meanwhile, at the time of writing this copy, European indices traded in the green with gains of up to 0.68 percent on FTSE. Also, Japanese indices ended higher as investors grabbed semi-conductor related stocks on robust earnings outlook.

The currency market was shut today on account of annual closing.

GoodReturns.in

Read more about: stock markets nifty metal
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