Sensex, Nifty End At Six-Month High; Post Weekly Gains
Closing Bell: Sixth Day Of Gains
Indian equity markets ended higher for the sixth straight day as benchmark indices ended at their highest level in six months.
The S&P BSE Sensex ended 0.9% higher at 39,467 while the NSE Nifty 50 index ended below the mark of 11,650 - up 0.76% at 11,647.
Both Sensex and Nifty posted their second straight weekly advance.
Banks - both private and PSU were the outperformers in today's session. The PSU Bank index ended 5.1% higher while the Nifty Bank gained nearly 1,000 points, ending with gains of 4.2%. The Nifty Bank has gained over 2,500 points in the last six trading sessions.
The Nifty Media index was the other major sectoral gainer; ending 1.8% higher.
Nifty Auto was the top sectoral laggard, ending 0.8% lower. FMCG and Metal indices were the other underperformers.
Broader markets were mixed in today's session. The midcap index (up 0.6%) ended higher for the 10th straight day - its longest winning streak since August 2018. However, the Smallcap index ended 0.2% lower, snapping a nine-day winning run.
India Volatility Index fell another 3.4% to end at 18.25.
Market breadth turned adverse with 1,084 stocks on the NSE posting losses while 745 stocks ended with gains.