The Indian benchmark indices are back on the upward run after a pause of one day as they closed Thursday over 1% higher. The financial and technology stocks led the gains in the indices. The shares of Reliance Industries Limited and HDFC duo emerged as the top contributors for the surge in the Indian cues.
The S&P BSE Sensex ended the day at 36,737.69 points. It advanced 1.12% or 408.68 points. Of the 30 stocks constituting the Sensex index, 20 of them ended Thursday in the green whereas nine of them were on the downward run while one stock (Titian Company gained a mere 0.03%) ended nearly flat.
The northern run by the Sensex was powered by the stocks of SBI, Tata Steel, HDFC, HCL tech and Axis Bank as they gained 3.72%, 3.05%, 3.05%, 2.37%, and 2.16% respectively. ONC, Tech Mahindra and Maruti Suzuki emerged as the top losers as they dropped 1.66%, 1.22% and 0.02% respectively.
The NSE Nifty 50 closed the day at 10,813.45 points. It zoomed 1.01% or 107.70 points. Among the 50 Nifty stocks, 35 of them wrapped up Thursday in the green terrain while the remaining 15 closed in the red. The shares of Hindalco (+6.58%), HDFC (+4.26), SBI (+4.14%), Bajaj (+3.81%) and Tata Steel (+3.23%) gained the most.
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The broader indices failed to match the performance of the benchmark indices. The S&P BSE SmallCap index shot up 0.59% to mark the end of Thursday’s trading hours. The S&P BSE MidCap index managed to close the day by gaining 0.07% higher.
Infratel, Coal India and Tech Mahindra turned out to be the top losers on the Nifty 50 front as they lost 1.94%, 1.54% and 1.20% respectively. The UPL Limited closed almost falt as its share price moved by a meagre 1.11% on the positive side. India VIX, the volatility gauge, dropped 3.74% or 1.10 points to settle at 28.33 points.
Among the sectoral indices, the NSE Nifty Metal index expanded 2%. It was followed by the NSE Nifty Financial Services and NSE Nifty Bank indices. The NSE Nifty FMCG index is the only sectoral index to have closed Thursday in the red. It closed at 30,672 levels, dropping 0.33%.
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Engineer by qualification, financial writer by choice. I am always open to learning new things.
