Sensex closes 848 points higher, Nifty ends at 14,923; Led by Banking and Metal stocks

(Words 375)

Indian equity markets outperformed and ended with robust gains today. Public and Private sector banks were the top index contributors on the Monday market rally, as investors rotated funds towards the sector as a sign of value-based buying. Banking, Financials and Metals stocks pushed the market on the green side. IndusInd Bank, SBI, ICICI Bank and HDFC Bank were among the top Sensex gainers, while Larsen, Bharti Airtel, Nestle and Sun Pharma were laggards.

Market Overview

BSE Sensex and Nifty 50 gained 1.74 and 1.67 per cent respectively. The Sensex of Bombay Stock Exchange closed above the 49,550 level while Nifty50 of the National Stock Exchange settled at the 14,923 mark. The Sensex gained 848 points to trade at 49,580 and the Nifty50 rose by 245 points to trade at 14,923.

Nifty50 Index

In Nifty50 shares, 40 shares out of 50 companies closed on the green side of the market. IndusInd Bank is the top performer as it gained 7.26 per cent followed by SBI which rose by 6.35 per cent, ICICI Bank surged 4.41 per cent, HDFC Bank, UPL, Axis Bank and Eicher Motors also closed on the green side of the market. On the other hand, 10 stocks out of 50 Nifty50 shares closed on the red side. Cipla declined more than 2 and a half per cent and Larsen plunged 2.02 per cent. Bharti Airtel, SBI Life Insurance, Nestle also declined and closed on the red side of the market.

Small-cap and Mid-cap Indices

Small-cap and Mid-cap also saw positive demand. The Nifty Midcap 100 index gained 1.84 per cent and the Nifty Smallcap 100 index surged 1.15 per cent. In Nifty Midcap 100, Balkrishna Industries gained 9.90 per cent, Adani Total Gas rose 8.16 per cent, Nalco, Adani Green energy and RBL Bank also surged, while Escorts, Voltas and Mphasis declined. In Nifty Smallcap 100, Lakshmi Machine gained 10 per cent. On the other hand, Just Dial fell 6.47 per cent, Trident, Omaxe, INOX Leisure declined.

Sectoral Indices

In NSE sectoral indices, 15 out of 17 sectors surged. The Nifty PSU Bank and Private Bank surged more than 3 and a half per cent, NSE Finance Service rose 3.20 per cent while Nifty Media and Pharma closed on the red side.