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Rediff.com  » Business » Sensex rallies 504 points; Nifty reclaims 11,800

Sensex rallies 504 points; Nifty reclaims 11,800

Source: PTI
November 03, 2020 16:30 IST
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ICICI Bank was the top gainer in the Sensex pack, soaring over 6 per cent, followed by SBI, HDFC, PowerGrid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto and HDFC Bank.

On the other hand, NTPC, Reliance Industries, Nestle India, HCL Tech and Infosys were among the laggards.

Equity benchmark Sensex rallied 504 points on Tuesday, tracking a strong uptick in index majors ICICI Bank, HDFC twins and SBI amid positive cues from global markets ahead of the US presidential election.

The 30-share BSE index ended 503.55 points or 1.27 per cent higher at 40,261.13.

 

Similarly, the broader NSE Nifty jumped 144.35 points or 1.24 per cent to 11,813.50.

ICICI Bank was the top gainer in the Sensex pack, soaring over 6 per cent, followed by SBI, HDFC, PowerGrid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto and HDFC Bank.

On the other hand, NTPC, Reliance Industries, Nestle India, HCL Tech and Infosys were among the laggards.

According to traders, domestic equities followed the positive trend in global markets ahead of the US presidential election.

Bourses in Shanghai, Hong Kong, Seoul, and Tokyo ended with significant gains.

"Wall Street recovered on the eve of Election Day with investors appeared to be going by the late polls, which suggests Joe Biden leads over Donald Trump," said Arjun Yash Mahajan Head Institutional Business at Reliance Securities.

Meanwhile, international oil benchmark Brent crude was trading 3.31 per cent higher at $40.26 per barrel.

In the forex market, the rupee settled almost flat at 74.41 against the US dollar.

Photograph: Danish Siddiqui/Reuters

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