A security guard stands outside the BSE building in Mumbai, India. (Photographer: Adeel Halim/Bloomberg News)

Sensex, Nifty Clock Best Two-Day Rally In Nearly Two Months

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Sensex Surges 629 Points Led By HDFC Twins, ICICI Bank

Indian equity benchmarks extended gains and posted their best two-day rally since Oct. 15 as investors welcomed a quick appointment of a central bank governor who’s expected to shift away from a hawkish view.

The S&P BSE Sensex rose 1.8 percent or 629 points to 35,779 and the NSE Nifty 50 Index climbed 1.8 percent or 188 points to 10,738.

Veteran bureaucrat Shaktikanta Das took over as the 25th Governor of the Reserve Bank of India for a period of three years today.

Brokerages expect the appointment of Das as the Reserve Bank of India governor to address a few market concerns emerging from the sudden resignation of Urjit Patel after a standoff with the government over the central bank’s independence.

All the 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty Index's 4 percent surge.

Mid- and small-cap shares outperformed their larger peers as the S&P BSE MidCap and S&P BSE SmallCap Indices rose 2.5 percent each.

Market Update: Sensex Surges Over 500 Points, Nifty Reclaims 10,700

Indian equity benchmarks extended gains on the back of a broad-based buying interest as investors welcomed a quick appointment of a central bank governor who’s expected to shift away from a hawkish view.

  • All the 19 sector indexes compiled by BSE Ltd. rallied, paced by a gauge of property shares.
  • All Sensex stocks were trading higher led by the Hero MotoCorp's 7.4 percent gain. Bharti Airtel and Yes Bank also rose over 5 percent each.
  • Overall market breadth was positive as 1,838 shares were advancing while 649 were declining on the BSE.

ICICI Bank Hold Gains Amid Another Block Deal

  • ICICI Bank has 46.2 lakh shares change hands in a block deal. Stock up 2 percent at Rs 350.25.

Buyers and sellers were not immediately known

Source: Bloomberg

NBCC Rises On Winning Construction Order Worth Rs 172 Crore

Shares of the Delhi-based state-run construction company rose as much as 6 percent to Rs 52.90 after it won construction order worth Rs 172 crore from Ministry of Skill Development and Entrepreneurship, NBCC said in an exchange notification.

Market Update: Sensex Rises Over 400 Points, Nifty Above 10,650

Indian equity benchmarks extended gains led by HDFC Bank, ICICI Bank and Larsen & Toubro.

The S&P BSE Sensex rose 1.2 percent or 430 points to 35,580 and the NSE Nifty Index surged 1.2 percent or 126 points to 10,675. All Sensex stocks barring Infosys were trading led by Hero MotoCorp's 6 percent gain.

Overall market breadth was extremely positive as 1,760 stocks were advancing while 650 were declining on the BSE.

Sensex, Nifty Clock Best Two-Day Rally In Nearly Two Months