Sensex, Nifty Post Biggest Single-Day Gains In Over Two Weeks
Indian equity benchmarks snapped three-day losing streak and posted their best single day gains in over two weeks led by Reliance Industries, Infosys and State Bank of India.
The S&P BSE Sensex rose 1.06 percent or 346 points to 33,107 and the NSE Nifty 50 Index advanced 0.96 percent or 97 points to 10,215. The gains were broad-based as the S&P BSE MidCap and S&P BSE SmalCap Indices rose 1 percent each.
All the 19 sector gauges compiled by BSE ended higher led by the S&P BSE Information Technology Index’s 2.16 percent surge.
- Indian equity benchmarks were on track to post best single-day gains in over two weeks.
- The S&P BSE Sensex rose 310 points to 33,071 and the NSE Nifty 50 Index advanced 84 points to 10,202.
- The broader market indices were in-line with benchmarks with the S&P BSE MidCap and S&P BSE SmallCap indices up 1 percent.
- From the Nifty 50 basket of shares, 36 were advancing while 14 were declining.
- Infosys, Bajaj Finance, State Bank of India, Aurobindo Pharma, Reliance Industries, TCS and Vedanta were among the gainers.
Deepan Mehta To BloombergQuint
- Liquor stocks great play on consumption theme
- PSU banks will continue to lose market shares to private sector and NBFCs
- Benefits of compounding visible in NBFCs
Stocks Moving On Heavy Volumes
- Astral Polytechnik: The Ahmedabad-based PVC plumbing systems maker rose as much as 3 percent to record high of Rs 814.95. Trading volume was 27.9 times its 20-day average.
- Reliance Naval and Engineering: The Mumbai-based warship and submarine maker fell as much as 14.89 percent to Rs 37.15. Trading volume was 11.1 times its 20-day average.
- Himatsingka Seide: The Bangalore-based textile products maker rose as much as 5 percent to Rs 337. Trading volume was 1.4 times its 20-day average.
- Radico Khaitan: The Delhi-based liquor maker rose as much as 18.8 percent to record high of Rs 259.70. Trading volume was 7.6 times its 20-day average.