Tracking recovery in global equities, Indian equity benchmarks rebounded sharply on Tuesday led by the blue chips, even though the Covid pandemic situation in India remained precarious. Private bank and pharma stocks were on the forefront of the rally.

Banks reported a big jump in advances in Q4, while pharma companies got some relief as the government relaxed the ban on drug exports. All stocks from the 30-share Sensex pack gained, as the index jumped 2,476 points, or 8.97 per cent, to close at 30,067.

The broader 50-share Nifty followed with a 708-point gain to 8,792. “We expect the next few sessions to remain volatile.

Investors must opt for value buying in select pockets of the Indian market (FMCG, pharma, consumer durables) to build a long-term portfolio.

Benchmark Nifty has the next critical hurdle at 9,000,” said Ajit Mishra, VP of Research, Religare Broking. Here is a lowdown of the movers and shakers of Tuesday’s session on Dalal Street:Equity investors make Rs 8 lakh crore in a dayInvestors got richer by Rs 7.86 lakh crore in Tuesday’s rally as the total market-cap of BSE-listed firms rose to Rs 116 lakh crore. Best day for SensexBenchmark equity indices recorded the best single-day gain in terms of points gained.

Nifty that jumped nearly 9 per cent to register the best percentage gains since May 2008. All sectoral indices end in greenAll the sectoral indices closed the day in the green on NSE, gaining 2-12 per cent.

Nifty Private Bank index was the biggest gainer, up 11.07 per cent, as select banks reported a sharp growth in advances and deposits despite the pandemic.

Nifty PSU Bank gained the least at 2.09 per cent. Godrej Prop shares soar 15%Shares of builder Godrej Properties surged 15.29 per cent to Rs 699 after the company said its Q4FY20 bookings stood at Rs 2,380 crore representing a QoQ growth of 100 per cent and YoY growth of 10 per cent. VIX at one-month lowIndia VIX, also known as the market’s fear gauge, declined further 5.86 per cent to hit one-month low of 52.06.

It is down 40 per cent from a 52-week high of 86.63.

This implies market participants see relatively lower volatile movements going ahead. Who moved my Sensex?Reliance Industries was the biggest contributor to Sensex gains, adding 386 points, while HDFC Bank chipped in with 334 points and ICICI Bank 241 points.

Among other major contributors were Infosys, HUL, Axis Bank and TCS, adding over 100 points each. Pharma comes to the foreNifty Pharma index recorded one of the biggest jumps in history, as the government lifted a ban on export of 24 drugs, including hydroxychloroquine, amid pressure from the US.

The index gained 10.43 per cent, led by up to 17 per cent gains in shares of Aurobindo Pharma, Dr Reddy’s Labs, Cadila Healthcare and Sun Pharma. HUL hits record highShares of HUL hit a record high of Rs 2,462 during Tuesday’s trade amid heavy buying.

The scrip closed 13.51 per cent higher at Rs 2,444.

The FMCG giant is one of the few blue chip stocks that have gained in the current calendar year. Tata Power to build NTPC unitShares of Tata Power jumped 11.42 per cent to Rs 33.65 after its subsidiary won a contract to build an NTPC power unit.

The company’s wholly-owned subsidiary, Tata Power Solar Systems, received the letter of award at an all-inclusive price of Rs 1,730 crore. Shilpa Medicare gets MHRA nodShares of Shilpa Medicare surged 5 per cent to hit the upper circuit at Rs 282 after its UK subsidiary Koanaa Healthcare received UK MHRA approval for cancer drug Imatinib oral solution. IIB loans grow 13%Shares of IndusInd Bank jumped 22.60 per cent to Rs 384.05 after the bank said its net advances jumped 13 per cent to Rs 2,09,914 crore as of March 31.

The private lender said deposits jumped 4 per cent year-on-year to Rs 2,16,713 crore. Kotak Bank shares gain 5%Shares of Kotak Mahindra Bank advanced 5 per cent to Rs 1,196.95 after the private sector lender posted a 11.7 per cent rise in deposit base for the March quarter, and announced a reduction in savings account rates for high value customers. HDFC Bank advances jumpHDFC Bank climbed nearly 10.18 per cent to Rs 896.35 after the private lender said its advances aggregated to Rs 9.93 lakh crore as of March 31, marking a 21 per cent growth compared with Rs 8.19 lakh crore a year ago.