Sensex, Nifty End At Seven-Month High Led By Banks, Autos
Closing Bell: Fourth Day Of Gains
Indian equity markets continued to extend their gains, ending higher for the fourth straight day. Improving global sentiment and lowest Covid-19 cases reported in India over the last 42 days spurred investors in today's session.
The S&P BSE Sensex ended 1.5% higher at 39,574 while the NSE Nifty 50 index ended with gains of 1.4% at 11,662. Both benchmark indices ended at their highest level in February this year. Both Sensex and Nifty have now gained in six out of the last seven trading sessions. The indices have gained 8% each in the last seven trading sessions.
Financials and Autos led the outperformance in today's session. The Nifty Bank ended with gains of 2% courtesy gains in IndusInd Bank, HDFC Bank and ICICI Bank.
The Nifty Auto index ended 1.2% higher owing to gains in Tata Motors (up 7.7%) and Mahindra & Mahindra (up 3.5%). Tata Motors ended as the top gainer on the Nifty 50 index.
Nifty Realty (up 2.6%) and Nifty Media (up 1.8%) were the other sectoral outperformers in today's session.
The Nifty Metal index was the top laggard today, ending 0.7% lower while the Nifty FMCG and Nifty Pharma indices ended little changed but with a negative bias.
Broader markets undeperformed in today's trade. The midcap index ended 0.6% higher while the smallcap index ended with gains of 0.5%.
India Volatility Index ended little changed at 19.63.
Market breadth was in favour of the gainers. 1,083 stocks on the NSE ended with gains while 763 stocks declined.