India’s Sensex gains 359 points

Mumbai: Equity gauges scaled upward on Thursday with banking and financial taking the lead.

Analysts said the further direction of markets will depend on the monsoon, opening up of economy in a phased manner and pace of vaccination going forward. As states ease restrictions gradually, the demand environment is expected to get better which can have a positive impact on equities.

At the closing bell, the BSE S&P Sensex was up by 359 points or 0.69 per cent at 52,300 while the Nifty 50 edged higher by 102 points or 0.65 per cent to 15,738.

Except for Nifty auto which skidded by 0.1 per cent, all sectoral indices at the National Stock Exchange were in the green with Nifty realty jumping by 3.2 per cent, PSU bank by 2.4 per cent and pharma by 1.4 per cent.

Among stocks, realty major DLF gained by 5.2 per cent to Rs 313.35 per share while Godrej Properties was up by 2.5 per cent to Rs 1,438.75.

Bajaj Finance advanced by 7.6 per cent, Bajaj Finserv by 3.8 per cent, State Bank of India by 2.6 per cent and IndusInd Bank by 2.1 per cent.
Cipla, Dr Reddy's, ITC and Tech Mahindra also traded with a positive bias and handsome margins.

However, auto major were among the laggards with Eicher Motors, Bajaj Auto, Maruti Suzuki and Hero Motocorp showing negative returns.

Meanwhile, Asian shares edged higher but held their recent trading range as investors focussed on US inflation data that can prompt the Federal Reserve to start tapering its massive stimulus.

Japan's Nikkei benchmark shares rose 0.34 per cent on economic rebound hopes. South Korean stocks ended higher by 0.26 per cent on foreign buying.

But Hong Kong's Hang Seng index ended flat.