Sensex, Nifty End Truncated Week On A High; Banks Outperform
Closing Bell: A Strong Close
Indian equity markets ended the truncated week on a strong note, extending the gains made during Monday's trading session.
The S&P BSE Sensex ended 1,65% higher at 38,697 while the NSE Nifty 50 index ended above the mark of 11,400 - up 1.5% at 11,416. Interestingly, the 11,400 Call strike on the derivatives side had the maximum Open Interest with 41.6 lakh shares on Wednesday.
Both benchmark indices have ended at the highest level in two weeks.
The two new debutants - Chemcon Specialty Chemicals ended with gains of 72% on the first day of trading, while Computer Age Management Services (CAMS) ended with gains of 14%.
Private Banks were the outperformers in today's session. The Nifty Bank ended with gains of 3.7%. The index has gained over 1,200 points this week. Gains were led by IndusInd Bank - which ended 12% higher and as the top gainer on the Nifty 50 index. Axis Bank, ICICI Bank, Kotak Mahindra Bank and HDFC Bank too contributed to the gains.
The Media index was the other major sectoral performer, ending 2.8% higher courtesy gains seen in film exhibitors PVR and Inox Leisure.
Other sectoral indices like Nifty Auto, Nifty I.T., Nifty Metal gained between 0.5%-1%.
Broader markets underperformed the benchmarks in today's session. The Nifty Midcap index ended with gains of 0.8% while the Nifty Smallcap index gained 0.7%.
India Volatility Index ended 6.4% lower at 18.27.
1,126 stocks on the NSE ended with gains while 693 stocks ended with losses.