The S&P BSE Sensex and NSE Nifty 50 indexes staged a sharp up move on Thursday led by gains in HDFC Bank, Reliance Industries, HDFC, Kotak Mahindra Bank, ICICI Bank and ITC. The Sensex rose as much as 768 points and Nifty 50 index touched an intraday high of 10,111.20. The sharp up move in the benchmarks came on the back of short covering rally as weekly index futures and option contracts expired today.
The Sensex climbed 700 points or 2 per cent to close at 34,208 and Nifty 50 index surged 210 points or 2.13 per cent to close at 10,092.
All the 11 sector gauges compiled by the National Stock Exchange ended higher led by Nifty Bank index’s over 3 per cent surge. Nifty Financial Services, Private Bank, PSU Bank and PSU Bank indexes also rose between 2-3 per cent each.
Mid- and small-sap shares were also witnessed buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over a per cent each.
40 out of fifty shares in Nifty were trading higher led by Bajaj Finserv’s 6 per cent gain. Coal India, Zee Entertainment, Bajaj Finance, Vedanta, JDFC, Axis Bank, Kotak Mahindra Bank, State Bank of Inia, HDFC Bank, Power Grid, Axis Bank and ITC were also among the gainers.
On the flipside, TCS, Hindustan Unilever, Bharti Airtel, Asian Paints, ONGC, Sun Pharma and Hero MotoCorp were among the notable losers.
The overall market breadth was extremely positive as 1,889 shares ended higher while 724 closed lower on the BSE.