Sensex, Nifty Rebound After A Day’s Breather Led By Reliance Industries

S&P BSE Sensex and NSE Nifty 50 indexes bounced back after a day’s breather in the previous session led by gains in Reliance Industries, HDFC, ICICI Bank, Kotak Mahindra Bank, TCS and IndusInd Bank. For most part of the day, benchmarks traded firmly higher and surged to the day’s highest levels in the last 30 minutes of trade a day ahead of the weekly expiry of index futures and options tomorrow. The Sensex rose as much as 393 points and Nifty 50 index touched an intraday high of 10,149.

The Sensex ended 290 points higher at 34,247 and Nifty 50 index climbed 69 points to 10,116.

Seven of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty PSU Bank index’s 3.5 per cent gain. Nifty Private Bank, Realty, Bank and Financial Services indexes also rose between 1-2 per cent each.

On the other hand, auto and metal shares witnessed selling pressure and the respective indexes fell 1.14 per cent and 0.58 per cent each respectively.

Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 index rose 1.2 per cent and Nifty Smallcap 100 index advanced 0.51 per cent.

IndusInd Bank was top gainer in the Nifty 50 basket of shares, the stock closed 10 per cent higher at Rs 510.25. Hindalco, Axis Bank, Shree Cements, Kotak Mahindra Bank, Reliance Industries, State Bank of India, ICICI Bank and HDFC also advanced between 2-3 per cent.

On the flipside, Hero MotoCorp fell 3.5 per cent to Rs 2,304 after its profit fell 15 per cent to Rs 620.71 crore in March quarter.

GAIL, Coal India, Bajaj Auto, Titan, Tata Steel, ONGC, Bajaj Finserv, Britannia Industries and UPL were also among the losers.

The overall market breadth was positive as 1,525 shares ended higher while 1,022 closed lower on the BSE.

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