Sensex jumps 568 points, Tata shares rally after SC verdict

Equity benchmark indices closed over 1 per cent higher on Friday on the back of favourable global cues amid progress in distribution of Covid-19 vaccines.

At the closing bell, the BSE S&P Sensex was up by 568 points or 1.17 per cent at 49,009 while the Nifty 50 edged higher by 182 points or 1.27 per cent to 14,507.

All sectoral indices at the National Stock Exchange were in the positive zone with Nifty metal up by 3.6 per cent, realty by 1.7 per cent, FMCG by 1.8 per cent and auto by 1.2 per cent.

Among stocks, shares of Tata compes were up after the Supreme Court ruled in favour of the Tatas in a battle with Mistry group by setting aside an order of National Company Law Appellate Tribunal (NCLAT).

Tata Steel was up by 5.9 per cent to close at Rs 766.20 per share while Tata Motors gained by 3.9 per cent to Rs 296.70 and Titan by 4 per cent to Rs 1,509.10.

Bajaj Finserv gained by 4.4 per cent to Rs 9,460.25 per share while Asian Paints was up by 4.1 per cent, Hindustan Lever by 3.4 per cent and Bajaj Auto by 2.5 per cent.

However, those which lost marginally were UPL, Power Grid Corporation, Eicher Motors, ITC, Hero MotoCorp and IndusInd Bank.

Meanwhile, Asian shares bounced back from a three-month low after a late-day rally on Wall Street.

Japan's Nikkei rose by 1.56 per cent. Hong Kong's Hang Seng was up by 1.57 per cent while South Korea's Kospi moved up by 1.09 per cent.

( With inputs from ANI )