Sensex, Nifty Gain For Second Day; Banks, Autos Outperform
Second Day Of Gains
Indian equities ended higher for the second day in a row as benchmark indices saw buying interest in banking, auto and technology names.
The S&P BSE Sensex ended 0.9% higher at 49,661 while the NSE Nifty 50 also gained a similar quantum to end at 14,819.
All sectoral indices ended today's trading session with gains. The PSU Bank index was the top sectoral gainer, ending 2% higher while the Nifty Bank gained close to 500 points or 1.5% to end at 32,991.
The Nifty Auto index was the other major sectoral gainer, ending with gains of 1.6% while the Nifty I.T. index ended the day with gains of 1.1%.
The Nifty Metal index ended higher for the eighth straight day with gains of 0.9%. This is the longest winning streak for the index in the last eight months. It also ended at the highest level since April 2011.
Broader markets outperformed the benchmark indices in today's trading session. The Nifty Midcap index rose 1.3% while the Smallcap index ended with gains of 1.7% in today's session.
The India Volatility Index fell 2.8% to close at 20.25.
1,264 stocks on the NSE ended with gains while 621 stocks reported losses.
While sentiment was risk-on for the equity markets, the rupee had a day to forget. The currency fell 1.5% - its biggest single-day drop since August 2019 to end at 74.56, which is the lowest level in over four months.