Sensex gains 272 points, auto and metal scrips surge

Equity benchmark indices traded in a narrow range on May 06 as consistent rise in COVID-19 cases kept investors on the fence.

Going forward, said market experts, the interplay of resurgence in Covid-19 cases and pace of vaccination will decide the trajectory of economic recovery and market behaviour.

The BSE SandP Sensex closed 272 points or 0.56 per cent higher at 48,950 while the Nifty 50 ticked up by 107 points or 0.73 per cent to 14,725.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal up by 2.5 per cent, auto and IT by 1.8 per cent each, and realty by 0.7 per cent.

Among stocks, Hindalco advanced by 5.6 per cent to close the day at Rs 387.90 per share.

Tata Steel moved up by 3 per cent to Rs 1,103 per share after reporting a consolidated profit of Rs 6,644 crore in Q4 as compared to a loss of Rs 1,481 crore in the year-ago quarter.