Closing Bell: Bulls make a comeback! Sensex ends 200 pts higher, Nifty above 11,400; banks, pharma surge

Gains were largely led by banking names as the Bank Nifty ended around a percent higher. Additionally, pharmaceuticals, automobiles, energy and IT names were the top gainers

Bulls took the momentum back from bears on Tuesday as benchmarks ended the day on a strong note, courtesy a surge in banks and pharmaceuticals among others. An uptick in midcaps, too, helped the market close in the green. The Nifty managed to reclaim 11,400, while the Sensex ended over 200 points higher. This happened even as the rupee touched an all-time low during the day and hovered around 69.85 levels at the time of equity benchmarks closing.

Gains were largely led by banking names as the Bank Nifty ended around a percent higher. Additionally, pharmaceuticals, automobiles, energy and IT names were the top gainers. The Nifty Midcap index was higher by a percent.

At the close of market hours, the Sensex is up 207.10 points or 0.55% at 37852.00, while the Nifty closed up 79.30 points or 0.70% at 11435.10. The market breadth is still negative as 1,287 shares advanced, against a decline of 1,370 shares, while 160 shares were unchanged.

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Source: https://www.moneycontrol.com/news/business/markets/closing-bell-bulls-make-a-comeback-sensex-ends-200-pts-higher-nifty-above-11400-banks-pharma-surge-2840511.html