Sensex, Nifty Halt Three-Day Decline Led By Banks
Domestic equity benchmarks snapped their three-day decline led by rally in banking, media and metal shares. The S&P BSE Sensex rose 0.55 per cent or 196 points to settle at 36,064 and the NSE Nifty 50 Index climbed 71 points or 0.66 per cent to end at 10,863. Rally in today's session was broad-based as the mid- and small-cap shares outperformed their larger peers. The S&P BSE MidCap and S&P BSE SmallCap Indexes rose 1.3 per cent and 2.13 per cent each respectively.
All 11 sector gauges compiled by National Stock Exchange ended higher led by th Nifty Media Index's 3.2 per cent rally. PSU Bank and Metal Indexes also rose 2.6 and 1.8 per cent.
In the Nifty 50 basket of shares, 40 ended higher while 10 shares declined. Zee Entertainment was the top gainer on Nifty 50 basket of shares, up 4.5 per cent at Rs 488. Hindustan Petroleum, IndusInd Bank, Bharat Petroleum, Indian Oil, Yes Bank and Vedanta were also among the gainers. On the flipside, Bharti Airtel was the top loser, the stock declined 3.2 per cent to Rs 308 after its board approved raising Rs 32,000 crore post market hours yesterday. Bajaj Auto, Axis Bank, Asian Paints, UPL and Cipla were also among the losers.
Among the individual shares, Jet Airways climbed 4 per cent to close at Rs 233 after Reuters reported that Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board.
The overall market breadth was extremely positive as 1,906 shares closed higher while 664 ended lower on the BSE.