Benchmarks Continue Record Run; Sensex 500 Points From 50,000
Indian equities had a volatile trading session but managed to eke out gains as banking stocks staged a rebound in the second half.
The S&P BSE Sensex ended 0.5% higher at 49,517. The index is now only 483 points away from the mark of 50,000. The NSE Nifty 50 index too ended with gains of 0.5% at 14,563. The index managed to reclaim the 14,500 mark after falling to an intraday low of 14,432.
Among the sectoral indices, the PSU Bank index had a sharp spike towards the final minutes of trade. The index ended 6% higher and was the top sectoral gainer in today's session. All constituents of the index ended higher and it ended at the highest level since February last year.
The Nifty Realty index too rose 2.8% in today's session, courtesy gains in DLF and other Mumbai-based realty players.
Indices like Nifty Bank, Nifty Auto and Nifty Media saw gains of over 1% each.
Among the laggards today were Pharma, I.T. and FMCG. The Pharma index was the top sectoral laggard, seeing cuts of 1.2%. The FMCG index fell 0.6% while the I.T. index, though little changed, ended with a negative bias.
Broader markets were mixed in today's session. The Midcap index outperformed, ending 0.7% higher while the Smallcap index ended little changed.
The India Volatility Index ended 2.1% higher at 22.85.
1,017 stocks on the NSE ended with gains while 873 stocks posted losses.