Muristek
Mumbai, March 9
Extending the gains for a second day, key stock indices Sensex and Nifty jumped by more than 2% on Wednesday as oil and energy, financials and IT stocks advanced amid reports of diplomatic efforts to end Russia's attack on Ukraine.
The benchmark BSE Sensex opened in the green and further jumped 1,469.64 points or 2.75% to 54,893.73 during the day. It finally settled at 54,647.33, higher by 1,223.24 points or 2.29%, notching up the biggest single-day gain since February 25.
The broader Nifty of the NSE climbed 331.90 points or 2.07% to end at 16,345.35 as 40 of its stocks advanced.
From the 30-share Sensex pack, Asian Paints, Reliance Industries, Bajaj Finance, Mahindra amp; Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers.
Asian Paints was the lead gainer, rising by 5.56%. Reliance Industries soared 5.24%, Bajaj Finserv by 5% and HDFC Bank by 3.29%.
Among IT stocks, Tech Mahindra rose by 2.85%, Infosys by 1.97% and TCS gained close to 1%.
IndusInd Bank spurted by over 4% after the bank said it has set up a panel to assess the accountability of its staff, if any, in the matter related to disbursal of loans by its microfinance subsidiary BFIL without the consent of customers during March 2020-October 2021. In contrast, Power Grid Corporation, NTPC, Tata Steel, Nestle India and Wipro were the laggards.
"D-Street bulls finally held the upper hand on reports suggesting that the Ukrainian President is no longer pressing for NATO membership," S Ranganathan, Head of Research at LKP securities said. Top diplomats of Russia and Ukraine have agreed to meet in Turkey on Thursday.
"Domestic indices carried forward yesterday's gains following a clawback in European markets and US futures as smart investors saw value in the current market valuations.
"The domestic market is also reacting positively to exit polls and in anticipation of in-line state election results. In the near term, the domestic market will trade as per the positive or negative surprise in the state election results and global trend," said Vinod Nair, Head of Research at Geojit Financial Services.
Aviation stocks were in huge demand as after a two-year hiatus, India will resume regular international flights from March 27. Shares of InterGlobe Aviation zoomed 6.94% and SpiceJet jumped 6.05%. — PTI
SENSEX RALLIES 1,223.24 POINTS
RUPEE REBOUNDS TO 76.62/$
CLOSES AT 54,647.33
NSE benchmark Nifty climbed 331.90 points to end at 16,345.35 Asian Paints, Reliance Industries, Bajaj Finance, Mamp;M, Indusind Bank amp; Maruti were major gainersInvestors richer by Rs7.21 lakh cr
Equity investors became richer by over Rs7.21 lakh crore as stock markets continued the rally for the second day on Wednesday With the recovery, the market capitalisation of BSE-listed companies jumped by Rs 7,21,949.74 crore to Rs 2,48,32,780.78 crore in two days Markets had faced four sessions of heavy declines from February 28 to March 7