Sensex, Nifty End At Day’s High; Reliance Industries Gains 7%
Closing Bell: A Strong Rebound
Indian equity markets snapped a two-day losing streak, ending the weekly options expiry session with strong gains, courtesy Reliance Industries Ltd.
The S&P BSE Sensex ended 1.7% higher at 38,840 while the NSE Nifty 50 index ended 1.55% or over 170 points higher at 11,449. Both Sensex and the Nifty saw their biggest single-day gain in over a month.
Gains were primarily led by Reliance Industries, which ended as the top gainer on the Nifty, ending with gains of 7.3%. This was the biggest single-day gain for the stock in nearly five months. The stock contributed 118 points to the total gains on the Nifty index.
The Nifty Bank had a volatile day but managed to snap a five-day losing streak, ending with gains of 0.9%. The PSU Bank index was the top sectoral gainer, ending 2.5% higher and snapping an eight-day losing streak, which was the longest since December 2015.
The Metal index was the top sectoral laggard, ending with losses of over 1%, led by declines in Hindalco and Tata Steel.
Broader markets too finished with gains in today's session. The midcap index gained 1.2% while the smallcap index gained 1.6%.
The India Volatility Index ended 4.3% lower at 21.27.
1,286 stocks on the NSE ended with gains while 528 stocks posted losses.