Sensex rises by 1,030 points, Nifty tops 14,950


Axis Bank was the top gainer in the Sensex pack, surging around 5%, followed by HDFC twins, ICICI Bank, Bajaj Finance and SBI.

Equity benchmark Sensex soared 1,030.28 points and the Nifty rallied over 270 points on Wednesday, tracking strong buying in financial stocks, after trading hours were extended following a technical glitch at NSE.

After resumption of trade at 3.45 p.m., NSE Nifty zoomed 274.20 points or 1.86% to end at 14,982.

Similarly, the 30-share BSE index settled 1,030.28 points or 2.07% higher at 50,781.69.

Axis Bank was the top gainer in the Sensex pack, surging around 5%, followed by HDFC twins, ICICI Bank, Bajaj Finance and SBI.

On the other hand, PowerGrid, Dr Reddy’s, TCS and Asian Paints were among the laggards. Minutes before the scheduled closure of trade at 3.30 p.m., leading bourses BSE and NSE said their equity and derivatives markets will remain open till 5 p.m..

The move came after the National Stock Exchange (NSE) suffered an outage earlier in the day due to technical glitches. Trading across segments came to a halt at 1140 hrs due to connectivity issues.

However, the broader Indian markets were not impacted as communication lines at BSE remained operational.

“A late surge by bulls across financials post lifting of the embargo on the grant of GOI business to private banks took indices up 2% when trade time was extended till 5.00 p.m.,” said S Ranganathan, Head of Research at LKP Securities.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended on a negative note.

Stock exchanges in Europe, however, were trading with gains in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.96% higher at $65.10 per barrel.

In the forex market, the rupee gained 11 paise to settle at 72.35 against the U.S. dollar supported by positive domestic equities and weakness of the American currency in the overseas market.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.