Sensex spurts by 600 points, financial and auto stocks gain

Equity benchmark indices witnessed smart gains on Tuesday led by a jump in financial, private bank and auto stocks while Asian stock markets rose to a two-week high.

The bounce on bourses came after US President Donald Trump was discharged from hospital following treatment for Covid-19 and prospects for a fresh US stimulus package appeared to brighten.

The BSE S&P Sensex closed 601 points or 1.54 per cent higher at 39,575 while the Nifty 50 gained by 159 points or 1.38 per cent at 11,662.

Sectoral indices at the National Stock Exchange were mixed with Nifty financial service moving up by 3.1 per cent, private bank by 2.3 per cent and auto by 1.2 per cent. But Nifty FMCG, metal and pharma declined.

Among stocks, Tata Motors was the top gainer after moving up by 7.7 per cent to Rs 144.25 per share as Jaguar Land Rover reported a 50 per cent growth in September quarter sales at 1.13 lakh vehicles on a sequential basis.

Housing loan major HDFC ticked up by 7.5 per cent, Bajaj Finance by 2.5 per cent and Bajaj Finserv by 2 per cent. Private lenders IndusInd Bank and HDFC Bank rose by 3.3 per cent and 2.6 per cent respectively.

However, among the losers were Britannia, Nestle India, Hindalco, Tata Steel, Wipro and Eicher Motors.

Meanwhile, Asian stock markets rose to a two-week high after US President Donald Trump was discharged from hospital following treatment for coronavirus and as prospects for a fresh US stimulus package appeared to brighten.

One of his doctors though cautioned that he may not be out of the woods yet.

Japan's Nikkei added 0.52 per cent while Hong Kong's Hang Seng moved up by 0.9 per cent and South Korea's Kospi advanced by 0.34 per cent.

( With inputs from ANI )