Sensex jumps 380 points as realty and IT stocks surge

MUMBAI: Equity benchmark indices closed higher on Wednesday as worries about increase in inflation were largely offset by continuous decline in Covid cases.
At the closing bell, the BSE S&P Sensex was up by 380 points or 0.75 per cent at 50,018 while the Nifty 50 advanced by 93 points or 0.61 per cent to 15,301.
Sectoral indices at the National Stock Exchange were mixed with Nifty metal dipping by 1.8 per cent on profit booking by traders. Nifty PSU bank also dipped slightly but Nifty realty gained by 2.8 per cent and IT by 1.7 per cent.
Among stocks, DLF Ltd moved up by 4.6 per cent to close at Rs 291.65 per share while Parsvnath Developers gained by 4.9 per cent to Rs 9.60.
The Bajaj twins were stars of the day with Bajaj Finserv surging by 4.6 per cent and Bajaj Finance by 2.6 per cent. Infosys was up by 2.4 per cent, Wipro by 1.8 per cent and Maruti Suzuki by 1.6 per cent.
However, metal scrips lost shine with Hindalco cracking by 2.5 per cent to Rs 381.40 per share, JSW Steel by 2.4 per cent and Tata Steel by 2.2 per cent.
Meanwhile, Asian shares were mixed. Japan’s Nikkei stock index rose 0.31 per cent but key resistances loomed.
Hong Kong’s Hang Seng index was up by 0.88 per cent as tech and real estate firms shined. But South Korea’s Kospi fell by 0.09 per cent as LG Chem’s sharp decline offsets early gains. (Agency)