Sensex Up Around 500 Points; Banking, Metal Shares Lead Gains

The European markets, including the FTSE, DAX and CAC have registered modest gains at opening bell and the Asian markets are also trading largely in the positive

The benchmark indices have retained momentum in noon trading, despite concerns over rising covid-19 cases in the country, thanks to strength across the global bourses. At 2:05 pm, the BSE Sensex was at 48,442.72, higher by 543.05 points or 1.14 per cent and the NSE Nifty was at 14,495.55, up 154.55 points or 1 per cent. The broader markets are moving in tandem with benchmark indices, with the BSE Midcap and BSE Smallcap indices gaining around a per cent each. All the BSE sectoral indices are trading in the green, with the exception of the pharma space. Banking and metal counters are adding strength to the markets. The European markets, including the FTSE, DAX and CAC have registered modest gains at opening bell and the Asian markets are also trading largely in the positive. Meanwhile, the rupee rose against the US dollar in mi-day trading, tracking gains in domestic equity markets. The rupee advanced by 24 paise to 74.77 against the US dollar. On the corporate earnings front, Tech Mahindra, HDFC Life Insurance Company and SBI Cards and Payment Services will declare their March quarter earnings during the day.