Fifth Day Of Gains For Sensex, Nifty Led By Banks, Autos
Closing Bell: Up For Day Five
Indian equity markets continued to rally, extending their gains to the fifth straight day after another strong day of trade.
The S&P BSE Sensex ended 1.4% higher at 37,930 while the NSE Nifty 50 index ended 1.27% higher at 11,162. Benchmark indices remained at their highest level since March 5 this year.
The Nifty 50 index has gained in 12 out of the last 17 trading sessions.
PSUs led gains on the Nifty 50 in today's session. Power Grid ended as the top gainer, up 6.4%, followed by BPCL and Indian Oil, which ended with gains of over 5.5%.
Bajaj Finance was the top laggard on the Nifty 50 index, ending 4% lower after its first quarter earnings.
Banking stocks outperformed for the second straight day. The Nifty Bank and the PSU Bank index ended with gains of 2.1% each. Realty and auto stocks also ended with strong gains. The Realty index ended 2% higher while the Auto index ended with gains of 1.6%.
Pharma underperformed for the second straight day, ending 1.3% lower. The index snapped an eight-day gaining streak on Monday.
Broader markets underperformed in today's session. The midcap index ended little changed while the smallcap index ended with gains of 0.4%.
India Volatility Index ended off the day's low, down 0.5% to 24.58.
Market breadth ended in favour of the gainers despite broader markets underperforming. 1,022 stocks on the NSE ended with gains while 798 declined.