Indian shares followed world markets higher on Tuesday, after three straight sessions of declines, spurred by gains in Bharti Airtel and positive data from an early trial of a potential COVID-19 vaccine.

Share Market Live

NSE

The Sensex ended 167 points higher at 30,196, while the Nifty rose 56 points to settle at 8,879. However, market breadth was in favour of declines with the advance-decline ratio at 3:4.

The NSE Nifty50 index has slid around 9 percent in May so far, with sharp falls in the last three sessions, as India's economic relief measures disappointed markets and domestic COVID-19 infections rose steadily. The number of COVID-19 cases in India surged past 100,000 on Tuesday, and the death toll stood at 3,163.

Other Asian shares also climbed and oil extended gains on Tuesday after very early data showed US-based Moderna Inc’s experimental COVID-19 vaccine produced protective antibodies in a small group of healthy volunteers.

Back home, banking stocks extended decline following a bruising Monday that saw the sector record its worst day in two weeks. The Nifty Bank index fell around 0.35 percent during the day.

Among other sectors, Nifty Metal, Nifty Auto and Nifty IT rose over 1 percent each, while Nifty FMCG added 0.7 percent.

As for individual stocks, Bharti Airtel, Adani Ports, ONGC, UltraTech Cement, and Grasim were the top Nifty50 gainers, while UPL, Vedanta, RIL, IndusInd Bank and L&T led the losses.

Shares in Bharti Airtel jumped 11 percent after it reported a 15 percent rise in revenue. The stock was the biggest boost to the Nifty50.

ONGC rose over 5.5 percent after oil jumped to a two-month high on easing lockdowns, positive initial vaccine results.

UPL fell 9.8 percent after the Centre issued a draft order to prohibit use of certain insecticides, citing risk to humans and animals.

First Published:May 19, 2020 3:35 PM IST