Sensex, Nifty Rise For Third Straight Day Led By Gains In Banking Shares

Sensex, Nifty Rise For Third Straight Day Led By Gains In Banking Shares

The S&P BSE Sensex and NSE Nifty 50 Indexes rose for a third session in a row led by gains in banking and FMCG heavyweights like Kotak Mahindra Bank, State Bank of India, HDFC Bank HDFC and Hindustan Unilever. However, the upside in equity benchmarks was capped as Reliance Industries, Axis Bank and Maruti Suzuki ended on weak note. The Sensex rose as much as 154 points at day's highest level while the Nifty 50 Index briefly moved above important level of 11,700.

The Sensex ended 85 points or 0.22 per cent higher at 39,216 and the NSE Nifty 50 Index advanced 25 points or 0.21 per cent to 11,688.

Nine of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty PSU Bank Index's 1.12 per cent gain.

Nifty FMCG, Nifty Financial Services, Nifty Bank, Nifty IT and Nifty Media Indexes also rose between 0.5 and 0.8 per cent each.

On the other hand, Nifty Auto Index was top loser, down 1.02 per cent.

Indiabulls Housing Finance was top gainer in the Nifty 50 basket of shares, the stock rose 2.75 per cent to Rs 664. Zee Entertainment, UPL, Hindalco, State Bank of India, Tech Mahindra, IndusInd Bank, Kotak Mahindra Bank and HCL Technologies were also among the gainers.

On the flipside, Yes Bank was top loser, the stock fell 5.25 per cent to Rs 98.40 ahead of its earnings after the bank denied reports that four private equity players were set to infuse capital in the bank.

Eicher Motors, GAIL, Maruti Suzuki, ONGC, Bajaj Auto, NTPC and Coal India were also among the losers.

The overall market breadth was neutral as 897 shares ended lower while 849 closed higher on the National Stock Exchange.

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