Sensex Ends Over 400 Points Higher; Nifty Clocks Best F&O Expiry In Four Months
Closing Bell: Sensex, Nifty End Near Six-Month High On F&O Expiry Day
Indian equity benchmarks ended near a six-month high on the derivatives expiry day.
The S&P BSE Sensex closed 1.08 percent or 412.84 points higher at 38,545.72 and the NSE Nifty 50 ended at 11,570, up 1.09 percent. The broader market index represented by the NSE Nifty 500 Index ended 1.05 percent higher.
In the March series, the 50-share gauge ended 7.2 percent higher, the best F&O expiry in four months.
The market breadth was tilted in favour of buyers. About 1,126 stocks advanced and 62 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 3.6 percent advance. On the flipside, the NSE Nifty Metal Index was the only sectoral loser, down 0.28 percent.
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Stocks Moving On Heavy Volumes
- Shares rose as much as 4.7 percent to Rs 101.20 per share.
- Trading volume was almost 11 times the 20-day average.
- Shares declined 3.9 percent intraday to Rs 161.60 apiece.
- Trading volume was over six times the 20-day average.
- Shares rose 13.3 percent intraday to Rs 154.80 per share.
- Trading volume was almost four times the 20-day average.
- Shares rose 2.8 percent intraday to Rs 186.50 per share.
- Trading volume was almost three times the 20-day average.
New India Assurance
- Shares fell nearly 2.6 percent intraday to Rs 189.30 per share.
- The trading volume was almost four times the 20-day average.
Bandhan Bank Jumps The Most In Over Three Months
Shares of Bandhan Bank rose as much as 8.1 percent, the most since Dec. 13, 2018, to Rs 532.40.
The lender received approval from the Reserve Bank of India to open 25 branches, its Managing Director and CEO CS Ghosh told BloombergQuint in an interaction. “The bank will close the year with 986 branches,” he added.
The stock advanced 11 percent in the past 12 months, compared to a 17 percent gain in the Sensex.
Infosys Gains Over 2% On Stake Acquisition Plans
Shares of Infosys rose as much as 2.1 percent to Rs 745.
The company plans to acquire 75 percent stake in Stater, a unit of ABN Amro for 127.5 million euros, it said in a statement on the exchanges. The deal is subjected to customary closing adjustments, the statement added.
The stock traded at 18.2 times its estimated forward earnings per share compared to a 16.1 times for the two-year historical average, according to Bloomberg data.