MARKET WRAP: Indices off day’s high; Sensex up 693 pts, Nifty ends at 7,801

The equity market of India has climbed off the session’s high on Tuesday after the Finance Minister Nirmala Sitharaman has announced that an economic package was still underway even as she has announced a slew of the other measure, especially with regard to regulatory compliance matters. The Frontline index S&P BSE Sensex was still up 802 points, or 3.1 percent, at 26,790 levels. Earlier, the index had surged to as much as 27,463 levels. The Nifty index hovered around 7,830 levels, up 220 points, or 2.8 percent.

Tech stocks led to Tuesday’s gains. Also, companies like Infosys jumped 14 per cent while HCL Tech was up 6 percent. Besides, Bajaj Finance rebounded 19 percent off the day’s low while IndusInd Bank plunged 30 percent intra-day before paring the majority of the losses to trade 5 percent lower.

All the Nifty sectoral indices gained, except the Nifty Realty index. Nifty IT index was up 6.8 percent. Nifty Bank index was up 1.9 percent after falling over 4 percent intraday.

In the broader market, the S&P BSE MidCap index was up 118 points, or 1.22 per cent, while the S&P BSE SmallCap was down 92 points, or 1 per cent.

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