Indian equity benchmark indices, Sensex and Nifty extended gains boosted by bank stocks. Nifty Bank reclaimed 3,400 after the Supreme Court rejected pleas for a complete waiver of interest on loans under moratorium. After four trading sessions, Sensex and Nifty indices are back above 50,000 and 14,000, respectively.

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The Sensex ended 280 points higher at 50,051, and the Nifty closed higher at 14,814, up 78 points after an uptick in the last hour. Broader markets also ended the day higher, with the midcap and smallcap indices surging nearly 1 percent each.

On the Nifty50 index, Shree Cement, UltraTech Cement, Divi's Labs, HDFC Bank, IndusInd Bank were the top gainers while Hindalco Industries, ONGC, Power Grid, GAIL, and ITC led the losses.

Among sectors, Nifty PSU Bank surged nearly 3 percent, and Nifty Private Bank gained 1.73 percent. Nifty Realty, Nifty Financial Services, and Nifty Auto also ended their day in green, with the sectors rising 1.05, 0.90, and 0.43 percent, respectively.

HDFC Bank and ICICI Bank helped Nifty Bank reclaim 34,000. Amongst PSBs, Bank of India hit the upper circuit and IDBI Bank, Union Bank gained 7 percent and 5 percent, respectively.

UltraTech Cement hit it's intraday 52-week high and Shree Cement ended 5 percent higher on Tuesday.

Meanwhile, Nifty Metal, Nifty FMCG, and Nifty Metal ended the day in the green.

Bandhan Bank surged nearly 3 percent in trade to touch its one-month high.

#CNBCTV18Market | Bandhan Bank trading at over 1-month high pic.twitter.com/7vNMwvv2oD

— CNBC-TV18 (@CNBCTV18Live) March 23, 2021

Adani Ports and Special Economic Zone Ltd (APSEZ), on Tuesday, announced the acquisition of the 58.1 percent stake held by DVS Raju and family in Gangavaram Port Ltd (GPL) for a consideration of Rs 3,604 crore. As the stock gained 2 percent, Sandeep Upadhyay, of Centrum Capital, believes there is still enough steam left in the stock.

"The current acquisition which they have announced on Gangavaram seems to be a deal which they have struck at about 9-times EV/EBITDA. I think there is still enough steam left in the stock because the stock continues to trade at a higher premium vis-à-vis 9-times. They will be trading at 12-13-times in terms of their forward multiples," Upadhyay told CNBC-TV18.

Market breadth favours advances, and the advance-decline ratio is 3:2.

First Published:Mar 23, 2021 3:33 PM IST