Closing Bell: Sensex up nearly 500 points, Nifty above 17200; auto, IT and pharma stocks lead the surge

Amid strong global cues, the Indian markets concluded Tuesday’s session on a positive note for the second straight day. The Sensex gained almost 500 points and the Nifty50 above the 17200-mark, led by information and technology stocks, along with auto and pharma shares. 

At the market close, the BSE Sensex was up 477 points or 0.83 per cent to 57,897, and Nifty50 was up 147 points or 0.86 per cent to 17,233 level. The broader markets outperformed the benchmarks as mid-cap up over 1 per cent and small-cap gained almost 2 per cent at the market close. 

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The 12-share index Nifty Bank, contributing most to the Nifty’s surge, closed around 120 points higher or 0.35 per cent to the 35177-mark, led by HDFC Bank. 

As many as 47 shares closed in the green and 3 in the red on Nifty50. Asian Paints continued its rank position, to close eventually around 3 per cent, followed by Sun Pharma up also gained nearly 3 per cent. M&M, Ultratech Cement, Titan, NTPC each surged over 2 per cent at the market close. 

On the contrary, IndusInd Bank, Power Grid and ICICI Bank each closed flat with negative bias in the otherwise positive market on Tuesday. 

Sectorally, Nifty Auto surged most by over 1 per cent, followed by Nifty Pharma and IT as each gained around 1 per cent as all the indices closed in the green on Tuesday. In the broader markets, Realty and Media stocks led the mid and small-cap index as each closed higher.