After two days of dull performance, Indian equity benchmarks returned with a bang. Both indices, the BSE Sensex and the NSE Nifty50 increased more than 1.5 per cent.
The Gains were driven by stocks of Banking, Financial and IT companies, these sectors had the highest weightage in the benchmark indices today. Nearly 200 stocks hit fresh 52 week highs during the session. HDFC Bank, SBI, IndusInd Bank, ICICI Bank, and Axis Bank were among the top Sensex gainers, while Dr Reddy’s Labs and Power Grid Corp were laggards.
The BSE Sensex and Nifty 50 increased 1.97 and 1.81 per cent respectively. The Sensex of the Bombay Stock Exchange closed above the 50,500 level while Nifty50 of the National Stock Exchange settled at the 15,175 mark. The Sensex gained 975 points to trade at 50,540 and the Nifty50 rose by 269 points to trade at 15,175.
In Nifty50 shares, 45 shares out of 50 companies closed on the green side of the market. HDFC Bank is the top performer as it gained 4.50 per cent, followed by SBI which rose by 4.33 per cent, IndusInd Bank surged 4.15 per cent, ICICI Bank, IndusInd Bank and Axis Bank also closed on the green side of the market. On the other hand, only 5 stocks out of 50 Nifty50 shares closed on the red side. Power Grid Corp declined 0.44 per cent, Dr Reddy’s Labs fell 0.37 per cent. IOC, Eicher Motors, Grasim also declined and closed on the red side of the market.
Small-cap and Mid-cap Indices
The Nifty Midcap-100 index surged 0.80 per cent and the Nifty Smallcap-100 index rose 0.56 per cent. In Nifty Midcap 100, Natco Pharma gained 6.20 per cent, PNB Housing Finance rose 6.02 per cent, Edelweiss, Torrent Power and IDFC First Bank also surged, while Aarti Industries, Balakrishna Industries and V-Guard Industries declined. In Nifty Smallcap-100, JK Lakshmi Cement gained 5.96 per cent. On the other hand, Balrampur Chini fell 3.32 per cent, Sonata, Cyient, Vakrangee declined.
In NSE sectoral indices, all 17 out of 17 sectors surged. The Nifty PSU Bank was the top performer as it gained 3.80 per cent, NSE Pvt Bank rose 3.62 per cent followed by Nifty Financial Service increased by 3.21 per cent.