Sensex gains 550 points, Nifty at 8,455; HDFC, Tech Mahindra gain

Indian benchmark indices opened in the green on Tuesday (March 31) with the Sensex zooming 550.55 points or 1.94% at 28990.87, and the Nifty advancing 174.50 points or 2.11% at 8455.60. About 513 shares have advanced, 82 shares declined, and 27 shares are unchanged.

Hindalco Industries, HDFC, JSW Steel, Vedanta and Tech Mahindra were among major gainers on the Nifty.

Benchmark indices traded in green in the pre-opening session with the Sensex gaining 622.18 points or 2.19% at 29062.50, and the Nifty advancing 290.95 points or 3.51% at 8572.05.

Indian rupee opened higher by 9 paise at 75.52 per dollar on Tuesday after closing at 75.61 on Monday.

On Monday (March 30), bear run continued in the equity benchmark indices with the Sensex losing 1,375.27 points or 4.61% at 28440.32, while the broader Nifty ended 379.15 points down or 4.38% at 8281.10. Except for pharma and FMCG, all other sectoral indices ended in the red. Major losers on the Nifty were Bajaj Finance, HDFC, Kotak Mahindra Bank, and Tata Steel.

Although it has been a sell-off across all sectors, banking, financial and auto stocks witnessed heavy selling pressure. On the Sensex, Bajaj Finance, HDFC, Mahindra & Mahindra, Tata Steel, and Maruti Suzuki lost the most while Tech Mahindra, Hindustan Unilever, Nestle India, TCS, and Asian Paints were the only gainers.