Traders on the trading floor of the Motilal Oswal Financial Services office in Mumbai. (Photographer: Vivek Prakash/Bloomberg)

Sensex, Nifty Post Biggest Single-Day Gains In Over Two Weeks

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Closing Bell

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.

Sensex, Nifty Post Biggest Single-Day Gains In Over Two Weeks

Market Check

  • 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

Countdown

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.