Sensex, Nifty zoom over 2% on gains in Reliance, HDFC twins

Aviation stocks were in huge demand on Wednesday’s trade as after a two-year hiatus,

Key stock indices Sensex and Nifty surged by more than 2% on March 9 on gains in index heavyweight Reliance Industries and HDFC twins as investors looked at diplomatic efforts to end Russia’s attack on Ukraine.

The 30-share BSE Sensex opened in the green and further jumped 1,469.64 points or 2.75% to 54,893.73 during the day. It finally settled at 54,647.33, higher by 1,223.24 points or 2.29%.

The broader NSE Nifty climbed 331.90 points or 2.07% to end at 16,345.35.

From the 30-share pack, Asian Paints, Reliance Industries Limited, Bajaj Finance, Mahindra & Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers, jumping up to 5.56%.

Asian Paints was the lead gainer among Sensex stocks, rising by 5.56%. Reliance Industries soared 5.24%, Bajaj Finserve by 5% and HDFC Bank by 3.29%.

In contrast, Power Grid Corporation, NTPC, Tata Steel, Nestle India and Wipro were the laggards.

Aviation stocks were in huge demand on Wednesday’s trade as after a two-year hiatus, India will resume regular international flights from March 27. Shares of InterGlobe Aviation zoomed 6.94% and SpiceJet jumped 6.05%.