Sensex Zooms Over 900 Points, Nifty Trades Above 16,100; LIC Shares Fall

Indian equity benchmarks on Tuesday rose sharply in late morning deals led by gains in metal, energy stocks and information technology (IT) stocks.

The 30-share BSE Sensex jumped 936 points or 1.77 per cent to 53,910, while the broader NSE Nifty moved 288 points or 1.82 per cent up to trade at 16,130.

Mid- and small-cap shares were trading on a strong note as Nifty Midcap 100 rose 1.48 per cent and small-cap climbed 1.58 per cent.

All of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Nifty Metal, Nifty Oil & Gas and Nifty IT were outperforming the index by rising as much as 4.57 per cent, 2.47 per cent and 2.03 per cent, respectively.

On the stock-specific front, Hindalco was the top gainer as the stock soared 8.08 per cent to Rs 422.55. Coal India, ONGC, Tata Steel and JSW Steel were also among the gainers.

The overall market breadth stood strong as 2,439 shares were advancing while 705 were declining on BSE.

On the 30-share BSE index, Tata Steel, ITC, ICICI Bank, Reliance Industries, HCL Tech, L&T, Maruti, Bajaj Finance, Axis Bank, Wipro, Airtel, SBI and Infosys were among the top gainers.

In contrast, PowerGrid, NTPC, and Sun Pharma were trading in the red.

Also, shares of Life Insurance Corporation of India (LIC) made a tepid market debut. The stock was trading 5 per cent lower from its issue price.

Sensex had climbed 180 points or 0.34 per cent to close at 52,974 on Monday, while Nifty had moved 60 points or 0.38 per cent up to settle at 15,842.