Sensex, Nifty end in green for 2nd straight day
Domestic equities continued to shrug off rise in COVID-19 cases and benchmark indices recorded strong gain for second consecutive day. A sharp recovery in financials once again supported market rebound. Further, strong buying in Reliance Industries and metal stocks also supported rally. Almost all key sectoral indices ended in green today. In our view, short covering ahead of F&O expiry is also supporting market rally in this week. Notably, lower than expected March quarter performance led selling pressure in Maruti and HDFC Life. However, huge buying was seen in midcap and smallcap stocks today. Hindalco, L&T, Tata Steel and RIL were among top Nifty gainers, while HDFC Life, SBI Life, Kotak Bank and Maruti were laggards.
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