Closing Bells: Financial Stocks Led Gains in Indian Benchmark Indices

The Indian benchmark indices S&P BSE Sensex and NSE Nifty 50 sailed through the volatile day unperturbed to close over 1% higher. The gains in the cues were powered by technology and financial stocks. The Indian indices have kept global tensions at bay to wrap up Thursday in the green terrain. 

The S&P BSE Sensex closed the day at 36,471.68 points. It shot up by 1.16% or 419.87 points over the day. Of the 30 stocks that form the Sensex index, 18 of them ended in the positive territory whereas 11 closed in the red, while one stock (TCS gained a meagre 0.0045%) ended nearly flat. 

The share price of Infosys surged the most. The IT giant’s share price zoomed 9.56% or Rs 79.45 at the end of today’s trading hours. The rallying in the stock price is attributed to better than anticipated revenues and its quarterly net profits going up by 11.4%. The company signed up with a large number of clients despite the COVID-19 pandemic. 

Tech Mahindra emerged as the top loser as its share price dropped 2.54%. ITC and NTPC followed it as their share price fell 2.34% and 1.42% respectively. 

Also Read: Closing Bells: Indian Indices Close Wednesday Nearly Flat

The NSE Nifty 50 advanced 121.75 points or 1.15%. It closed Thursday at 10,739.95 points. Among the fifty stocks that form the Nifty index, 26 of them closed in the favourable terrain while the rest ended in the red. Infratel tanked 7.04% to turn out to be the top loser among all Nifty stocks. Tech Mahindra and ITC followed it. 

The share price of BPCL and CIPLA jumped by 6.9% and 5.50% respectively. The stocks of IndusInd Bank, Kotak Bank and Axis Bank added 3.37%, 2.09% and 1.25% respectively. India VIX, the volatility gauge, went to lose 3.53% or 0.93 points to close Thursday at 25.36 points. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

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