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Share Market LIVE: Sensex opens above 50,000, Nifty regains 15,000; bank stocks continue rallying

Volatility index moved lower once again.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Equity benchmark indices continued their positive momentum and surged higher on Tuesday morning. S&P BSE Sensex breached the 50,000 mark on the opening bell while the Nifty 50 index was inching closer to 15,100. Banking and Finance sector stocks were once again aiding the rally with IndusInd Bank, SBI, Axis Bank, and ICICI Bank among the top Sensex gainers. Bank Nifty was up 2%, Nifty Metal was up 2.3%, while India VIX was again slipping. Broader markets were mirroring the up-move. 

The Reserve Bank of India (RBI) said in its monthly bulletin that the biggest blow emerging from the second wave of the coronavirus pandemic is demand shock while the supply side remains better positioned. Loss of mobility, discretionary spending and employment are among the key concerns emerging. However, the RBI bulletin acknowledged that the loss of growth momentum is not as severe as at this time a year ago when the country had witnessed a Covid-induced lockdown. According to the RBI bulletin, corporate performance, meanwhile, is positioning itself for a turn in the business cycle. The initial set of earnings results declared by 288 Indian listed companies for the March quarter marks a distinct shift from the previous quarters, with top-line growth gaining prominence in a broad-based manner, the RBI said.

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