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The Indian equity benchmarks moved sharply higher amid heightened volatility on Tuesday led by gains in banking and information technology heavyweights such as Infosys, Tata Consultancy Services, HDFC Bank, ICICI Bank and Kotak Mahindra Bank. The Sensex climbed as much as 671 points to hit an intraday high of 51,111.94 and Nifty 50 index touched an intraday high of 15,126.85. The benchmarks opened higher but gave up gains in afternoon trading. However, late buying in private banks and IT shares helped benchmarks close near the day’s highest levels.
The Sensex rose 584 points to close at 51,025 and Nifty 50 index advanced 142 points or 0.95 per cent to settle at 15,098.
On the primary market front, the initial public offer of Easy Trip Planners has been subscribed 2.65 times so far on the second day of bidding, with the retail investor segment fully subscribed.
Oil marketing company shares were on a slippery slope as oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the Covid-19 pandemic began. Brent settled down $1.12 or 1.6 per cent at $68.24. U.S. West Texas Intermediate (WTI) crude settled down $1.04 or 1.6 per cent at $65.05. BPCL, GAIL, IOC and ONGC have shed between 2.5 per cent and 5.6 per cent each on the BSE.
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