Equities continue upward swing, PNB spurts 13 pc

Equity benchmark indices closed in the green zone on Tuesday after a volatile session despite mixed global cues amid rising coronavirus cases and US-China tensions.

The BSE S&P Sensex closed 182 points or 0.4 per cent higher at 45,609 while the Nifty 50 gained by 37 points or 0.28 per cent at 13,393. Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank jumping by 7.1 per cent.

Among stocks, Punjab National Bank surged ahead by 13.7 per cent to close at Rs 40.70 per share. But State Bank of India moved up only 0.8 per cent to wind up the day at Rs 271.95 per unit.

UltraTech Cement advanced by 3 per cent, Tata Consultancy Services by 2 per cent, Reliance Industries by 1.7 per cent, Wipro by 1.4 per cent, HCL Technologies by 0.9 per cent and Infosys by 0.8 per cent.

Jet Airways was locked in 5 per cent upper circuit after the consortium of UAE-based businessman Murari Lal Jalan and London’s Kalrock Capital said it expects to start operating the airline by the summer of 2021.

However, those which lost were Hindalco, Sun Pharma, Coal India, IndusInd Bank and power utility major NTPC.

Meanwhile, Asian stocks came under pressure as investors struggled to balance hopes for more economic stimulus and vaccines with worries over a surge in COVID-19 infections.

Japan’s Nikkei was down by 0.3 per cent as Prime Minister Yoshihide Suga unveiled a USD 708 billion in fresh economic stimulus measures, signalling his resolve to pull the country out of its coronavirus crisis-induced slump.