Sensex gains 194 points, metal stocks surge

Metal scrips surged during last hour of trading on Wednesday, lifting up key equity indices in an otherwise lacklustre session.

The BSE S&P Sensex closed 194 points or 0.37 per cent higher at 53,055 while the Nifty 50 advanced by 61 points or 0.39 per cent to 15,880.

Most sectoral indices at the National Stock Exchange were in the positive zone with Nifty metal up by 2.2 per cent, realty by 1.9 per cent and financial service by 0.6 per cent.

Among stocks, Tata Steel gained by 4.9 per cent to Rs 1,225 per share, JSW Steel by 2.7 per cent and Hindalco by 2.1 per cent, Bajaj Finserv was up by 2 per cent and IndusInd Bank rose by 1.1 per cent.

The other prominent gainers were Nestle India, HDFC, Adani Ports, UPL and Power Grid Corporation. But Titan fell by 2 per cent to close at Rs 1,726.80 per share.

The other laggards included ONGC, Maruti Suzuki, SBI Life, Reliance Industries, Cipla, NTPC and Bajaj Finance.

Meanwhile, Asian share markets stumbled as a bout of risk aversion boosted bonds and the dollar.

Japan's Nikkei slipped 0.96 per cent as chip stocks fell on Covid-19 worries. Hong Kong stocks shed 0.4 per cent to close at 8-week low as internet firms dragged.

South Korean stocks fell 0.6 per cent as Covid-19 cases spiked to the second-highest ever.

( With inputs from ANI )