Sensex, Nifty End 2.5% Higher Led By Financials, Metals
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty End 2.5% Higher Led By Financials, Metals

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Markets At Close

  • Benchmark indices post healthy gains
  • Nifty ends 2.6% higher at 9,826
  • Sensex ends 2.7% higher at 33,303
  • Nifty Bank ends 3.4% higher at 19,959
  • Nifty Midcap Index ends 3.1% higher
  • Nifty Smallcap Index ends 3.2% higher
  • India Volatility Index up 1.1% to 30.56
  • Nifty PSU Bank ends as the top sectoral gainer; up 7.6%
  • Nifty Auto, Metal, Media and Realty gain over 3% each
  • Bajaj Finance ends as the top Nifty gainer; up 10.5%
  • Dr Reddy's Laboratories ends as the top Nifty laggard; down 3%
  • 1,488 stocks ended with gains while 324 declined

Aiding Gains On The Nifty

Closing Bell: Strong Finish

Indian equities managed to hold on to the momentum from early trade to register strong gains on the first trading day of the week and the month.

The IMD retaining the forecast of a normal monsoon, aided sentiment further.

European markets trade with gains while futures on the Dow Jones are little changed.

The S&P BSE Sensex ended 2.7% higher, marginally off the highest point of the day at 33,303 while the NSE Nifty 50 index too ended with gains of 2.6% at 9,826. 40 out of the 50 Nifty constituents ended with gains.

All sectoral indices ended with gains, including the Nifty Pharma index, which pared losses to end 0.4% higher.

The Nifty PSU Bank index was the top performer of the day, ending 7.5% higher while the Nifty Bank, Auto, Media, Metal and Realty indices ended with gains of 3% each.

Market breadth remained in favour of the advances with 1,480 stocks ending with gains while 327 posted losses.

India Starts Real-Time Power Trade

The Indian Energy Exchange started real-time electricity trading starting today i a bid to allow buyers greater flexibility in balancing supply and demand.

Auctions will be conducted every 30 minutes and deliveries will be made within an hour of the session ending, Indian Energy Exchange said in a statement.

Shares of IEX are trading 5.6% higher on the NSE.

Stock Update: Ajanta Pharma

  • Worst performer on the Nifty Midcap index
  • Falls as much as 5% to Rs 1,448
  • Snaps two-day losing streak
  • Today's volumes are 1.6 times higher than its 30-day average
  • 10 out of the 13 analysts tracking the stock have a buy recommendation; 0 sell calls
  • Return potential for the stock as per Bloomberg data is 9.8%

Stock Reaction: SRF

The company in its Covid-19 update on Friday had informed the exchanges that its chemicals and packaging films business have restarted operations.

It also said that exports have remained robust other than logistical issues. The domestic focused technical textiles business has been adversely impacted, the company said.

However, it expects a demand revival for most of its B2B sales as the lockdown eases further.

Shares gained as much as 7.1% to Rs 3,734 and are up for the second straight day.

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