Benchmark indices zoomed for the second consecutive session this week led by gains in consumer durables and auto stocks. Sensex rose 613 points to 50,193 and Nifty ended 185 points higher at 15,108. Top Sensex gainer was M&M rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.
Bharti Airtel, ITC, Dr Reddy's and SBI were the laggards. Of 30 Sensex stocks, 25 ended in the green.
Daily Covid-19 cases falling to 2,63,533 in the past 24 hours led to positive sentiment among market participants. The country had recorded 2,81,386 new COVID-19 cases on Sunday. The daily new COVID-19 cases went below 3 lakhs after 26 days on Monday.
BSE mid cap and small cap indices surged 390 and 288 points, respectively.
Consumer durables and auto shares led the gains with BSE consumer durables index rising 783 points to 32,493. BSE auto index too surged 716 points.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said "Nifty closing above 15,100 today is definitely positive for the market. We may see consolidation between the levels of 15,000 and 15,200. However, in the near term, the markets have set the targets of 15,450 and 15,600. Keep a final stop loss at 14,850 for initiating any long trade on the index. One should focus on capital goods, infrastructure and commodity related stocks."
Market breadth was positive with 1,946 stocks rising against 1,144 falling on BSE. 164 stocks were unchanged.
On a year-to-date basis, Sensex has gained 5.11% and Nifty has risen 8.06%. In one year, Sensex and Nifty have surged a huge 67.15% and 71.23%, respectively.
Meanwhile, rupee rose by 17 paise to close at a seven-week high of 73.05 against the US dollar on Tuesday, extending its gaining streak to the third straight session on positive domestic equities and weakening of the American currency in the overseas markets.
At the interbank forex market, the rupee opened at 73.18 and hit an intra-day high of 72.95 and a low of 73.18 during the session.