Bulls gain strength: Sensex reclaims 50,000, Nifty ends above 15,000

Fall in Covid-19 cases, prospect of economy normalising in near term lift indices for a second day

The Indian markets posted sharp gains for the second day on Tuesday, with the Sensex reclaiming the 50,000 mark and the Nifty topping 15,000 after more than two months. Automobile and banking stocks rallied amid optimism that the lethal second wave of Covid-19 has peaked.

Most Asian markets gained as the US dollar weakened and the Taiwanese markets rebounded.

The Sensex ended the session at 50,193 with a gain of 612 points, or 1.2 per cent. This is the first time since April 1 that the Sensex has closed above 50,000. The Nifty, on the other hand, closed at 15,108, gaining 185