Sensex Ends Higher For The 10th Day Led By Banks, I.T.
A data graph tracks the movement of stocks on the stock exchange in Germany. (Photographer: Alex Kraus/Bloomberg)

Sensex Ends Higher For The 10th Day Led By Banks, I.T.

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Closing Bell

Indian equity markets continued their record run, notching yet another record high after recovering from the session's lows.

The S&P BSE Sensex ended 0.54% higher at 48,437. The index has now gained for 10 straight days, matching its longest winning streak seen in October 2020.

The NSE Nifty 50 too ended with gains of 0.5% at 14,199, recovering over 150 points from the day's low of 14,048.

Private Banks, which underperformed in Monday's trading session, gained momentum in today's session. The Nifty Bank index ended 1.6% higher, led by Axis Bank, which was the top gainer on the Nifty 50 index. In fact, four out of the top five gainers in today's trading session were BFSI stocks.

The Nifty I.T. index gained another 2.6% in today's session, registering another record high.

Most other indices recovered from the lowest point of the day. The Nifty Metal index was the only sectoral laggard, giving up 1.4% of Monday's gains of over 5%.

Broader markets moved in tandem with the benchmark indices. The midcap index ended with gains of 0.7% while the smallcap index rose 0.6%.

The India Volatility Index ended 2.1% higher at 20.46.

1,084 stocks on the NSE ended with gains while 842 were laggards in today's session.

How Did The Sectoral Indices Fare

Banking Stocks Contribute To Gains

Sensex Ends Higher For The 10th Day Led By Banks, I.T.

Buzzing Stock: Just Dial

  • Third best gainer on the Nifty Smallcap index
  • Gains as much as 9.2% to Rs 732.6
  • Trading at the highest since September 2019
  • Gains for the third straight day
  • Today's volumes are more than triple its 20-day average
  • One-month implied volatility at 87%
  • Stock in overbought territory with Relative Strength Index (RSI) at 73.4
  • 9 out of the 16 analysts tracking the stock have a buy recommendation; 4 sell calls
  • The stock crossed its 12-month Bloomberg consensus price target of Rs 690 in today's session

Better Profitability Rations Ahead?

Markets At 2:10 P.M.

  • Benchmark indices recover from the day's low to trade with gains
  • Nifty up 0.2% at 14,165
  • Sensex up 0.3% at 48,333
  • Nifty Bank up 1.1% at 31,545
  • Nifty Midcap index up 0.4%
  • Nifty Smallcap index up 0.4%
  • India Volatility Index up 1.2% to 20.3
  • Nifty I.T. remains the top sectoral gainer; up 2.4%
  • Nifty Metal index remains the top sectoral laggard; down 1.5%
  • Axis Bank remains the top Nifty gainer; up 5.4%
  • Bajaj Finance & Hindalco are the top Nifty laggards down 2.4% each
  • 1,006 stocks on the NSE trade with gains while 878 are declining
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