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By Malvika Gurung
Investing.com — The domestic benchmark indices ended higher for the second consecutive session on Tuesday amid firm cues from Asian peers and a rally in metal stocks after China eased its Covid-19 restrictions, improving the risk appetite.
Indian headline indices ended 0.65% higher and gained 361 points or 0.6% on Tuesday, extending the previous session’s rally amid an absence of negative news from the global front.
In the two sessions, Nifty has surged 1.82% at 18,132.3 levels and has zoomed by over 1,080 points or 1.8% to 60,927.43. Investors on Dalal Street have added a whopping Rs 8.37 lakh crore to their wealth in the two-day rally.
Dalal Street witnessed its worst day in three months on Friday, Dec 27. Investors’ wealth eroded by Rs 8.43 lakh crore in the session.
On Tuesday, the sectoral index led the positive sentiment on the domestic market, rallying 4.23% on the back of an up to 10% jump in Jindal Steel & Power (NS:), Tata Steel (NS:), NALCO (NS:), Hindalco (NS:) and SAIL (NS:). Indices and surged too.
Read Also: Decoding Nifty Metal Rally; Tata Steel, JSP, Hindalco Zoom Upto 10%
Further, heavyweights including Tata Motors (NS:), ONGC (NS:), Asian Paints (NS:), L&T, Wipro (NS:), Divi’s Laboratories (NS:) and Adani Enterprises (NS:) supported the market, while Hindustan Unilever (NS:), M&M, Apollo Hospitals (NS:), ITC (NS:) and Nestle (NS:) India exerted pressure.
The market volatility barometer tanked 4.03% to 15.29 levels.
Read Also: Nifty Critical Levels for Bear Sign, Optimistic Note for New Year?
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