Sensex clocks biggest one-day percentage gain since May 2009

MUMBAI: Firing on all cylinders, Sensex made a terrific comeback on Tuesday with the benchmark indices posting their biggest single-day gain since May 18, 2009. Supportive global cues and hopes that coronavirus spread may have peaked in key global centres, boosted investor sentiment.

The S&P BSE Sensex today reclaimed the crucial psychological level of 30,000. The headline index zoomed 2,476 points or around 9 per cent to settle at 30,067. All the 30 constituents of the index ended in the green. IndusInd Bank (up 25 per cent) emerged as the biggest gainer on Sensex, followed by Axis Bank (up over 19 per cent), M&M (up around 14.5 per cent), and ICICI Bank (up around 14 per cent).

Market breadth was in favour of advances as out of 2,576 companies traded on the Sensex, 1,842 advanced and 540 declined while 194 securities remained unchanged.

NSE’s Nifty ended at 8,792, up 708 points or 8.76 per cent. Nifty Bank and Nifty Pharma indices jumped around 10.5 per cent each to end at 19,046 and 8,129 levels, respectively.

Fear guage India VIX continued to decline and hit a month low of 52.06, down around 6 per cent.

Second-rung stocks, too participated in the rally; however, they underperformed the headline indices. The Nifty MidCap 100 index gained over 5 per cent to 11,914.70 levels while the Nifty SmallCap 100 index ended at 3,608.40, up 3.52 per cent.

Among individual stocks, Mahindra & Mahindra (M&M) ended nearly 14.5 per cent higher at Rs 321.45 in Sensex after the company’s board turned down a proposal to pump in fresh equity of $406 million in its ailing South Korean subsidiary SsangYong Motor Co (SYMC) amid the ongoing Covid-19 crisis.

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