Sensex ends 600 points higher, Nifty gains; Wipro, HDFC Bank stocks rally
The S&P BSE Sensex was up 591.69 points to 81,973.05 at the closing bell, while the NSE Nifty50 gained 163.70 points to settle at 25, 127.95.
by Koustav Das · India TodayIn Short
- Sensex rises 591 points, Nifty gains 163 points
- HDFC Bank, IT stocks drive market rally
- Nifty IT, Bank, Financial Services gain over 1%
Benchmark stock market indices ended the trading session on a positive note, backed by a rally in HDFC Bank and information technology (IT) stocks.
The S&P BSE Sensex was up 591.69 points to 81,973.05 at the closing bell, while the NSE Nifty50 gained 163.70 points to settle at 25, 127.95.
All the other broader market indices were ended the trading session in the green, signalling the positive momentum on Dalal Street.
High-weightage sectoral indices such as Nifty IT, Nifty Bank and Nifty Financial Services ended the trading session with gains above 1%.
The top five gainers on the Nifty50 were Wipro, Tech Mahindra, HDFC Life, HDFC Bank and L&T.
On the other hand, the top losers were ONGC, Maruti, Tata Steel, Bajaj Finance and Adani Enterprises.
The Q2 results of HCLTech and Reliance Industries Limited are set to dictate the mood on Dalal Street tomorrow along with inflation data, which will be released at 5:30 pm.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Global markets are showing mixed signals as China’s disinflation and weaker economic data suggest a potential further slowdown in global economic growth, already affected by rising geopolitical tensions. Furthermore, the positive impact of the Chinese stimulus package seems to be diminishing.”
“Meanwhile, the Indian market is demonstrating resilience, with subdued Q2 earnings expectations seemingly priced in and oil prices declining. The IT and financial sectors are attracting buying interest after recent corrections,” Nair added.