Sensex, Nifty End Truncated Week On A High; Metals, Auto, Banks Shine
A Strong Weekly Expiry
Indian equities ended the weekly options expiry session and the holiday-shortened week on a positive note, closing near the highest point of the day.
The S&P BSE Sensex ended 1% higher at 50,029 while the NSE Nifty 50 index rose 1.2% to end at 14,867. 41 out of the 50 index constituents ended the day with gains.
For the week, the Sensex gained 2.1% while the Nifty was up 2.5% - the first weekly gain for the benchmark indices in three weeks.
Among the sectoral indices, Metal stocks were the outperformers by a distance in today's session. The index ended 5.3% higher - its biggest single-day gain in a year. The index also rose for the fifth straight day, ending at the highest level in over three years.
Other outperformers in today's session included the PSU Bank index which rose 2.6% and the Nifty Media index which gained 2.3%.
The Nifty Bank index rose 550 points to end at 33,858. The Nifty Auto index also ended with gains of 1.6%.
FMCG stocks were the underperformers in today's session with the index ending 0.2% lower.
Broader markets outperformed the benchmark indices. The Nifty Midcap index rose 1.8% while the Smallcap index gained 2.1% at the close of trade.
The India Volatility Index fell 3.2% to end at 19.99.
1,565 stocks on the NSE ended with gains while 352 declined.