Sensex, Nifty Rise For Third Straight Day, Oil Refiners Rally
Indian equity benchmarks gained for third straight day to their highest level in over a week led by HDFC Bank, Larsen & Toubro, Sun Pharma and ITC.
The S&P BSE Sensex rose 0.7 percent or 241 points to 35,165 and the NSE Nifty 50 index climbed 0.8 percent or 83 points to 10,689.
The broader markets outperformed their larger peers as the S&P BSE MidCap index advanced 1.35 percent and the S&P BSE SmallCap index climbed 1.6 percent.
Seventeen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Oil & Gas index's 2.5 percent gain after crude fell for third straight day. On the flipside, the S&P BSE IT index fell 1.7 percent tracking rupee appreciation against the U.S. dollar.
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Manappuram Finance Holds Gains Amid Block Deal
- Manappuram Finance has 28.5 lakh shares change hands in a block deal on BSE.
Buyers and sellers were not immediately known
Oil & Gas Index Up Over 2.5% Led By Oil Retailers
Gains in state-run oil retailers boosted the gauge of oil and gas companies — the S&P BSE Oil & Gas index to rise 2.6 percent after crude fell for third straight session in international markets.
NTPC Rises After March Quarter Profit Beats Estimates
Shares of the state-run power producer rose as much as 2.75 percent to Rs 169.85 after its profit beat Bloomberg consensus estimates in March quarter.
Key earnings highlights:
- Net profit up 40.69 percent at Rs 2,925.7 crore versus Rs 2,079.4 crore (YoY); Estimate of Rs 2,715 crore
- Revenue up 13 percent at Rs 23,100 crore versus Rs 20,416 crore (YoY); Estimate of Rs 21,604 crore
- Standalone EBITDA margin at 25.6 percent versus estimate of 28.4 percent
- Ebitda up 8.2 percent at Rs 5,910 crore versus 5,463 crore (YoY)