INSUBCONTINENT EXCLUSIVE:
Share Market News: Gains in auto and IT shares pushed the markets higherDomestic share markets started Tuesday's session on a volatile note
amid weakness across Asian equities on concerns about additional economic stimulus in the US
The S-P BSE Sensex index surged to as high as 40,628.47 at the strongest level in early trade, up 322.88 points from an intraday low of
40,305.59 recorded earlier
The broader NSE Nifty 50 benchmark climbed to as high as11,924.30, having earlier weakened to11,837.25 compared to its previous close of
While gains in automobile and IT shares pushed the markets higher, losses in consumer goods and select financial stocks limited the
Steel, trading between 1.20 per cent and 2.75 per cent higher, were the top gainers in the Nifty index.On the other hand, Britannia, Indian
Oil, ONGC and IndusInd Bank, down 1.29-5.23 per cent each, were the worst hit among 24 laggards in the basket of 50 shares.Infosys, HDFC
Bank and HCL Tech were the biggest boosts to Sensex, contributing more than 100 points to the gain in the index.Britannia Industries shares
dropped more than 4 per cent, a day after the FMCG major reported quarterly revenue below estimates.Market breadth was largely positive
assessment of gross domestic product and that it had not closed the option of another stimulus, almost a week after unveiling a package that
had left the market disappointed.Equities in other Asian markets fell as investors adjusted risk exposure heading into the US election and
as a deadline for Washington to pass an economic stimulus bill approached while Europe reported record daily coronavirus infections.MSCI's
broadest index of Asia-Pacific shares outside Japan was last seen trading 0.11 per cent lower, tracking overnight losses in the US
