A trader works on the floor at a trading hall. (Photographer: Goh Seng Chong/Bloomberg News)

Sensex, Nifty Resume Rally After Two-Day Blip

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Closing Bell: Nifty Resume Uptrend After Two-Day Blip

Indian equity benchmarks resumed uptrend after a two-day blip, led by Reliance Industries Ltd. and ICICI Bank Ltd.

The S&P BSE Sensex Index closed 0.5 percent higher at 36,519.96 and the NSE Nifty 50 Index closed at 11,008.05, up 0.7 percent.

The market breadth was tilted in favour of buyers. Ten out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty PSU Bank Index's 3.9 percent gain. On the flipside, NSE Nifty FMCG Index was the only sectoral loser, down 1 percent.

 Sensex, Nifty Resume Rally After Two-Day Blip

Dairy Stocks Rally After Government Announces Duty Waivers On Exports

Shares of Prabhat Dairy Ltd. and Parag Milk Foods Ltd. rallied after the government announces 10 percent duty waiver on dairy exports.

 Sensex, Nifty Resume Rally After Two-Day Blip

NBCC Snaps Four-Day Decline After Order Win

Shares of the engineering company snapped a four-day decline, its longest losing streak in nearly a month. The stock rose as much as 3.4 percent to Rs 63.60.

The company received in-principle approval from the centre for conceptualising, designing and construction of India Pavilion at World Expo-2020, which is scheduled from Oct-2020 to Apr-2021 in Dubai, according to its stock exchange filing. The project is likely to cost about Rs 400 crore.

The Relative Strength Index was 25, indicating that the stock may be oversold. Trading volume was two times its 30-day average.

Cadila Healthcare Rallies After Receiving FDA Boost

Shares of the drugmaker rose as much as 3.8 percent to Rs 363.10.

The pharmaceutical company received a green signal from the U.S drug regulator Clindamycin Phosphate Topical Solution, used to treat acne, according to its stock exchange filing.

The stock is 19 percent below the Bloomberg consensus one-year price target.

Idea Cellular Swings After A Block Deal

Shares of the telecom operator swung between gains and losses to trade at Rs 52.45.

About 50 lakh shares changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.