Equity indices rebound led by auto stocks

Equity benchmark indices closed 1.3 per cent higher on Tuesday as the government fast-tracked emergency approvals for foreign-produced COVID vaccines amid alarming spike of coronavirus infections across India.

The BSE SandP Sensex closed 661 points or 1.35 per cent higher at 48,544 while the Nifty 50 edged higher by 194 points or 1.36 per cent to 14,505.

Except for Nifty IT which dropped by 3.3 per cent and pharma which dipped by 1.2 per cent, all other sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank up by 4.5 per cent, private bank by 3.2 per cent, auto by 4.3 per cent and metal by 3.4 per cent.

Among stocks, Mahindra and Mahindra moved up by 7.7 per cent to Rs 810 per share.

Tata Motors accelerated by 5.4 per cent and Maruti Suzuki by 4.6 per cent.