Indices rally for fourth straight day amid easing Indo-china tensions near LAC

Rupee appreciates by 37 paise to close at 75.66 against US dollar

MUMBAI: Market gauges Sensex and Nifty on Tuesday surged over 1.5 per cent to post their fourth straight session of gains amid reports that Indian and Chinese armies agreed to de-escalate border tensions. The BSE Sensex rallied 519.11 points, or 1.49 per cent, to close at 35,430.43; while the NSE Nifty soared 159.80 points, or 1.55 per cent, to end at 10,471.

Aided by positive cues from global markets and sustained foreign fund inflow, investor sentiment remained upbeat. On the Sensex chart, L&T was the top gainer, soaring around 7 per cent, followed by

Bajaj Finance, Indusind Bank, NTPC, Powergrid, M&M and Axis Bank.

On the other hand, Reliance Industries Bharti Airtel and Maruti closed with loss. Sectorally, BSE power, capital goods, utilities, realty, industrials and bankex rallied up to 4.24 per cent. Broader midcap and smallcap indices rose up to 1.80 per cent.

“Markets were also optimistic on the back of news of a de-escalation in border hostilities and the pace of COVID-19 recoveries increasing, in spite of the new virus infections,” he added.

The talks were held in a “cordial, positive and constructive atmosphere” and it was decided that modalities for disengagement from all areas in eastern Ladakh will be taken forward by both the sides, they said.

On a net basis, foreign institutional investors bought equities worth Rs 424.21 crore in the capital market on Monday, provisional exchange data showed.

The rupee appreciated 37 paise to close at 75.66 against the US dollar.