Sensex, Nifty End 1% Higher; Metals Outperform Again
Closing Bell: A Strong Show
Indian equity markets held on to gains to end the weekly options expiry session on a strong note.
The S&P BSE Sensex ended 0.96% higher at 38,025 while the NSE Nifty 50 index closed 0.9% higher at 11,200.
Nifty I.T. was the top sectoral gainer in today's session, ending with gains of 2%.
Metal stocks outperformed yet again. The metal index gained for the fifth straight day today. Gains were led by Tata Steel, which also was the top performer on the Nifty 50 index, ending with gains of close to 4%. The index has now gained in eight out of the last nine trading sessions.
Other indices like FMCG, Pharma and Realty saw gains between 1 to 1.5% in today's session.
The PSU bank index was the only sectoral laggard, ending 0.3% lower.
Broader markets saw divergent trends today. The midcap index ended 1.3% higher while the smallcap index gained 0.3%.
India Volatility Index ended 1.8% lower at 23.14.
Market breadth ended in favour of the gainers. 1,120 stocks on the NSE ended with gains while 703 posted losses.