Shrugging off Moody's downgrade of India's long-term sovereign rating, the domestic equity market ended with decent gains on Tuesday, though the session remained rangebound. Moreover, strong global cues and reassurance by Prime Minister Narendra Modi, in an address to India Inc at the CII's 125th annual session, that India will return to growth, boosted sentiment further.

The benchmark S&P BSE Sensex rallied 522 points or 1.57 per cent to 33,825.53 levels, thanks to buying in financial counters such as HDFC, HDFC Bank, ICICI Bank, Bajaj Finance, Axis Bank. NSE's Nifty ended at 9,979, up 153 points or 1.56 per cent.

Buzzing Stocks

Shares of Adani Green Energy hit an all-time high of Rs 273 and were locked in the 5 per cent upper circuit band on the BSE on Tuesday, after the company said that there will be no material impact on the company’s profit due to the Covid-19 pandemic.

The stock was trading higher for the fifth straight trading day. In the past three months, the stock has zoomed 75 per cent against a 12 per cent decline in the S&P BSE Sensex.

Shares of pharmaceutical companies continued their northward journey on Tuesday with Nifty Pharma index crossing 10,000 mark after a gap of 19 months as Aurobindo Pharma, Biocon, Cipla and JB Chemicals & Pharmaceuticals hit their respective 52-week highs on the National Stock Exchange (NSE).

Glenmark Pharmaceuticals, Cadila Healthcare, Sun Pharmaceutical Industries, Aurobindo Pharma and Lupin were up in the range of 2 per cent to 5 per cent today.