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Sensex climbs 488 points, Nifty ends at 17,790; Realty, auto stocks rally

The S&P BSE Sensex surged 488.10 points (0.82 per cent) to end at 59,677.83, while the Nifty 50 rose 144.35 points (0.82 per cent) to end at 17,790.35.

By: Express Web Desk | New Delhi |
Updated: October 7, 2021 4:27:17 pm
Bombay Stock Exchange building. (Express archive photo)

The benchmark equity indices on the BSE and National Stock Exchange ended over 0.75 per cent higher on Thursday taking cues from their global peers and a drop in energy prices.

The S&P BSE Sensex surged 488.10 points (0.82 per cent) to end at 59,677.83, while the Nifty 50 rose 144.35 points (0.82 per cent) to end at 17,790.35.

Gains in the Sensex pack on Thursday were led by Titan Company, Mahindra & Mahindra (M&M), Maruti Suzuki India, IndusInd Bank, Sun Pharmaceutical Industries and Asian Paints. On the other hand, Dr. Reddy’s Laboratories, Housing Development Finance Corporation (HDFC), Nestle India, Bajaj Finserv, Hindustan Unilever (HUL), and NTPC were among the laggards.

Among the sectoral indices on NSE, the Nifty Realty index rallied 6.16 per cent led by Sobha, Oberoi Realty and Godrej Properties. The Nifty Auto index too surged 4.39 per cent driven by Tata Motors, M&M and Ashok Leyland.

In the broader market, S&P BSE MidCap ended at 25,799.72, up 425.56 points (1.68 per cent) while the S&P BSE SmallCap settled at 29,088.57, up 395.57 points (1.38 per cent).

“Domestic market clawed its way out to a gap up opening following strong global sentiments, as US debt default worries calmed along with easing bond yields and crude oil prices. The domestic market was pushed by strong buying in auto, realty & IT sectors which bolstered the market to sustain the trend in favour of the bulls. Despite the global semiconductor shortage, auto stocks sparked a rally in hopes of demand revival during the festive season while the expectation of better Q2 numbers for IT and strong pre-sale numbers helped the realty sector,” said Vinod Nair, Head of Research at Geojit Financial Services.

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