Sensex, Nifty End Near Day’s High; Ultratech Gains 7% Post Q1
Closing Bell: A Strong Session
A recovery in banking stocks propelled the Indian equity markets to reverse Monday's losses and end near the highest point of the trading day.
The S&P BSE Sensex ended 1.47% higher at 38,492 while the NSE Nifty 50 index ended 1.5% higher at 11,300. 42 out of the 50 Nifty constituents ended with gains. UltraTech emerged as the top Nifty gainer, ending 7% higher post its first quarter results.
The Nifty Bank recovered a quarter of Monday's 800 point loss. The index ended with gains of 1.2% or 260 points.
Auto stocks were the top performers in today's session. The Nifty auto index ended with gains of 3.2%. Other gainers included the Nifty I.T. (up 2.3%) which gained for the third straight day, Nifty Metal which gained 2.2% and the Nifty Realty index which gained 1.6%.
Broader markets were mixed. The midcap index underperformed with gains of 0.9% while the smallcap index ended in-line with benchmark indices with gains of 1.4%.
Market breadth ended in favour of the gainers. 955 stocks on the NSE ended with gains while 872 declined.