Sensex Clocks Second 300-Point Gain; Nifty Closes Above 10,250
Indian equity benchmarks rallied for second day in a row led by gains in FMCG shares.
The S&P BSE Sensex rose 0.91 percent or 301 points to 33,250 and the NSE Nifty 50 Index advanced 0.97 percent or 99 points to 10,265.65.
Gains in today's session were broad-based as the S&P BSE MidCap Index rose 0.89 percent and the S&P BSE SmallCap Index jumped 1 percent.
For the week, Sensex rose 1.27 percent and the NSE Nifty 50 Index gained 1.42 percent.
All sector gauges compiled by BSE ended higher led by the S&P BSE Fast Moving Consumer Goods Index's 2.2 percent gain.
- Indian equity benchmarks rose for second day in a row led by gains in ITC, HDFC twins and ICICI Bank.
- The S&P BSE Sensex rose 0.9 percent or 304 points to 33,257 and the NSE Nifty 50 Index advanced 93 points or 0.92 percent to 10,260.
- Broader markets were in-line with the benchmark indices. The S&P BSE MidCap index rose 0.85 percent and the S&P BSE SmallCap Index gained 1.04 percent.
Fab Four Stocks of The Day
- Future Consumer: The Mumbai-based packaged food company rose as much as 15.5 percent, the most in three months, to Rs 67.70 after international brokerage Morgan Stanley initiated coverage on the stock with an ‘Overweight' rating for target price of Rs 95.
- Sadbhav Infrastructure Project: The Ahmedabad-based construction company rose as much as 8.3 percent, the most in nearly two months, to Rs 144.40 after 33 lakh shares changed hand in two blocks.
- Axiscades Engineering: The Bangalore-based technology service provider rose as much as 7.44 percent to Rs 176 after Valum Capital bought 1.95 lakh shares or 0.5 percent equity in the company.
- Escorts: The Faridabad-based tractor maker rose 3.6 percent to Rs 688.50 after HSBC initiated coverage on the stock with a buy rating for target price of Rs 835, indicating potential upside of 26 percent.
Yield On Government's 10-Year Benchmark Bond Spikes Above 7.10%
Yield on government of India's 10-year benchmark bond rose above 7.10 percent following government's bond auction.