Sensex surges 1,500 points to reclaim 29,000 mark, Nifty above 8,500; IndusInd Bank, HUL among top gainers

At 12.07 pm, Sensex was trading at 29,136.53, higher by 1,545.58 points or 5.60 per cent, from the previous close of 27,590.95.

Indian stock markets on Tuesday, April 7, witnessed a rally with the BSE Sensex gaining over 1,500 points to reclaim the psychological level of 29,000 even as domestic Covid-19 cases continue to rise in the country.

An Indian woman speaks on her phone while walking past a Bull sculpture outside the Bombay Stock Exchange (BSE) in Mumbai on February 6, 2018. Asian stocks plunged on February 6 after a record-breaking loss on Wall Street, extending a global rout as panicked investors fret over rising US borrowing costs and take profits after months of market euphoria.INDRANIL MUKHERJEE/AFP/Getty Images

The gains on domestic markets were in line with the Asian indices which rose on signs that the rate of coronavirus-related deaths globally is dropping.

At 12.07 pm, Sensex was trading at 29,136.53, higher by 1,545.58 points or 5.60 per cent, from the previous close of 27,590.95. It had opened at 28,898.36 and has so far touched an intra-day high of 29,180.31 and a low of 28,602.31.

The Nifty50 on the National Stock Exchange (NSE) was trading at 8,529, higher by 445.20 or 5.51 per cent from its previous close.

The gain across all sectors was led by the banking, healthcare and energy stocks.

Among the Sensex stocks, IndusInd Bank, Axis Bank, Hindustan Unilever, Mahindra and Mahindra, ICICI Bank, Kotak Mahindra Bank and HDFC Bank gained the most while Bajaj Finance was the only loser so far.

Meanwhile, India reported over 4,000 confirmed Covid-19 cases on Tuesday morning. However, the government said it had no plans to extend the 21-day lockdown that began last week.