Sensex up 500pts, Nifty hits 8050; Bank Nifty at 1-mth high

Equity benchmarks gained more strength in noon trade, majorly led by banking & financials. The Sensex rallied 507.37 points or 1.95 percent to 26471.34 and the Nifty climbed 155.15 points or 1.96 percent to 8054.30.

The BSE Midcap and Smallcap indices gained 1.9 percent and 1.6 percent, respectively. About 1709 shares have advanced against 553 shares declined on the Bombay Stock Exchange.

Axis Bank (5 percent), ICICI Bank (4.1 percent), SBI (3.7 percent) and M&M (3.6 percent) are the top gainers in Nifty. Among the losers are Tata Motors (-1.9 percent), HUL (-0.9 percent), Bharti Airtel (-0.7 percent) and GAIL (-0.6 percent).

Bank Nifty topped the buying list among sectoral indices, up 3.7 percent to 17,588.50, the one-month high. All banks gained between 2 percent and 5 percent.

CRISIL (8 percent), IRB Infra (7 percent), Union Bank (6 percent), IDBI Bank (5 percent) and DLF (5 percent) were the big winners in the midcap space. Other notable gainers included Karnataka Bank (4 percent), Canara Bank (5 percent), GMR Infra (5 percent), Oriental Bank (5 percent) and Amara Raja Batteries (5 percent).

The rupee gained past 66 a dollar. It was quoting at 65.94 to the dollar, up 52 paise over its previous close.

Among key Asian markets Singapore’s Straits Times was up 10 points at 2906, Hong Kong’s Hang Seng was up 59 points at 21914, and China’s Shanghai was up 1 points at 3087. Japan’s Nikkei 225 closed at 18070, down 362 points or 2.0 percent over its previous close, Korea’s KOSPI closed at 1995, up 19 points or 1.0 percent , and Taiwan’s Taiwan Index closed at 8462, up 16 points 

 

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