Last Hour Rally Helps Sensex, Nifty Erase Most Of Last Two Days’ Losses
Closing Bell: Last Hour Rally Helps Sensex, Nifty Erase Most Of Last Two Days' Losses
Indian equity benchmarks rallied during the last hour trade, erasing most of the losses clocked in the last two trading sessions.
The S&P BSE Sensex ended 1.12 percent or 424.50 points higher at 38,233.41, after jumping nearly 500 points intraday. The NSE Nifty 50 ended at 11,483.25, up 1.14 percent. The broader market index represented by the NSE Nifty 500 Index ended 1.18 percent higher.
The market breadth was tilted in favour of buyers. About 991 shares advanced and 754 stocks declined on National Stock Exchange. Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU bank Index’s 3.13 percent gain. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 0.39 percent.
Block Deal Alert: SREI Infrastructure
About 33 lakh shares of SREI Infrastructure changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately.
Stocks Moving On Heavy Volumes
- Stock rose as much as 4.3 percent to Rs 5,500.
- Trading volume was nearly double its 20-day average.
- Stock rose as much as 13.2 percent to Rs 19.35.
- Trading volume was six times its 20-day average.
Rupa & Co.
- Stock rose as much as 11.1 percent to Rs 362.40.
- Trading volume was more than quadruple its 20-day average.
- Stock rose as much as 8.5 percent to Rs 205.35.
- Trading volume was almost quadruple its 20-day average.
Market Check: Sensex Jumps Over 400 Points
Indian equity benchmarks traded at day’s high. Sensex jumped over 400 points and Nifty inches towards 11,500.
HCC Jumps 8% After Pact To Monetise Claims
Shares of Hindustan Construction Company rose as much as 8 percent, the most in nearly three weeks, to Rs 15.50.
The company approved the proposal for monetization of an identified pool of arbitration awards and claims, according to its stock exchange filing. “Under the terms of the transaction, the company will seek to transfer the beneficial interest/rights in a portfolio of identified awards and claims of the company for a consideration of Rs. 1,750 Crore to a consortium of Investors led by BlackRock,” the statement said.