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BW Businessworld

Sensex Gains 439 Points, Nifty Back Above 14,500

The shares of ACC surged over four per cent and marked its day's high of Rs 1,980 post-earnings.

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The domestic benchmark indices rebounded from their previous day losses as investors cheered the government's decision to lower the vaccination age as a measure to boost the vaccination drive in the country amid the second wave. The BSE Sensex gained 438.92 points at 48,388.34, while the Nifty-50 added 151.80 points to open at 14511.30.

In the 30-share Sensex, 28 shares opened higher on Tuesday as buying interest was seen in the space. Shares of Dr. Reddy's Labs(+4.18 per cent), Bajaj Finance(+2.90 per cent), and M&M(+2.81 per cent) were the top gainers of Sensex at market opening.

Among the individuals, shares of ACC surged over four per cent and marked its day's high of Rs 1,980 in minutes after the market opening. The company surged 74.2 per cent to Rs 563 crore in its Q1 for CY21.

The broader markets also recovered their losses and bounced back higher to trade up by nearly two per cent each. The BSE Midcap was up 1.75 per cent, and the Smallcap gained over 1.6 per cent in the early trade session on Tuesday. Indian Hotels and Ashok Leyland were top gainers in the Midcap space as they gained over five and four per cent respectively.

Among the sectors, all sectors opened on a positive note except for the IT sector. The technology sector witnessed some healthy profit booking after adding gains for consecutive sessions in the market. The PSU Bank(+2.45 per cent), and the Auto sector(+1.80 per cent) were the top gainers among all other sectors.

HCL Tech, Tech Mahindra, and Asian Paints were among the top stocks that saw profit booking as they stood among the top index losers at market opening.

However, the investor sentiment still remains to be cautious in the market amid the second wave in the country. The FIIs on Monday, April 19 sold shares worth Rs 1,633.70 crore, as per the provisional data available on the exchanges.

In the IPO market, Aditya Birla Sun Life AMC filed DRHP (Draft Red Herring Prospectus) for their IPO (Initial Public Offer) with the market regulator. The company is a joint venture of Aditya Birla Group and the Sun Life Financial Inc. of Canada.