Sensex rises 397 points, Nifty closes above 15,800; banking, consumer durables stocks lead gains
Benchmark indices ended higher today amid positive global and domestic cues. Sensex ended 397.04 points higher at 52,769, and Nifty surged 119.75 points to 15,812.
Top Sensex gainer was ICICI Bank rising nearly 3 per cent, followed by HDFC, Axis Bank, Sun Pharma, NTPC and M&M.
HCL Tech, Dr Reddy’s, Maruti and Tech Mahindra were among the top Sensex losers falling up to 1.01%.┬а
“Following favourable economic outcome and positive Asian markets, domestic bourses traded positive,” said Vinod Nair, Head of Research at Geojit Financial Services. Though June CPI inflation continued to remain above RBI’s tolerance level, it eased to 6.26 per cent from 6.30 per cent in the previous month giving some relief to the market, he said, adding that industrial production (IIP) for May grew 29.3 per cent YoY essentially due to a lower base.
Asian shares sparked a rally after better-than-expected Chinese economic data and a bounce back in Chinese tech stocks, he noted.
BSE mid cap and small cap indices rose 1.95 points and 120.32 points, respectively.
Banking stocks led the gains with BSE bankex rising 562 points to 40,433. BSE consumer durables index too climbed 162 points to 35,999.
Auto stocks also clocked gains with their BSE index rising 141 points to 23,448. Market cap of BSE-listed firms rose to Rs 232.51 lakh crore.
Market breadth was positive with 1,854 shares advancing against 1,360 falling on BSE.
Elsewhere in Asia, bourses in Shanghai, Seoul, Hong Kong and Tokyo ended with gains. Stock exchanges in Europe were trading mixed in mid-session deals.
Meanwhile, international oil benchmark Brent crude advanced 0.56 per cent to USD 75.58 per barrel.
