Sensex rises 167 points to close at 30,196; Nifty above 8,850

NEW DELHI: Equity indices finished in green on Tuesday with the benchmark BSE sensex rising over 150 points amid positive cues from the global markets.
The 30-share BSE index closed 167 points or 0.56 per cent higher at 30,196; while the broader NSE Nifty finished 56 points or 0.63 per cent higher at 8,879.
Bharti Airtel was the top gainer in the sensex pack with its shares rising as much as 10.75 per cent, followed by ONGC, Ultra Cemco, ITC, Power Grid, NTPC, and Tata Steel rising up to 5.76 per cent.
While IndusInd Bank, Reliance, LT, SBI, HUL and Axis Bank were the top losers, falling up to 2.39 per cent.
On NSE, sub-indices Nifty Media, Metal and Auto gained as much as 2 per cent.
According to traders, hopes of a vaccine for COVID-19 enthused global investor sentiment.
In a significant development, an American biotechnology company Moderna has said its initial vaccine tests in people have shown promising results and can stimulate an immune response against the coronavirus.
However, the rising number of cases in the country kept market participants cautious, they said.
"There are apprehensions in terms of asset quality in the banking sector. These are medium- to long-term concerns," Mayuresh Joshi, head of equity research at William O'Neil India told new agency Reuters.
"If such short-term moves happen, there is a high probability that shorts are getting covered," he said, of the banking stocks' rise on Tuesday.
Meanwhile, the rupee appreciated 25 paise to settle at 75.66 (provisional) against the US dollar.
Forex traders said besides the encouraging results in COVID-19 vaccine trial, higher opening of domestic equities and a weak greenback in overseas market supported the local unit.
The number of COVID-19 cases in India crossed the 1 lakh-mark, while the death toll rose to over 3,000, according to the health ministry.
(With agency inputs)