For the second day-straight domestic benchmark indices ended the day in green, despite a volatile trading session. S&P BSE Sensex jumped 453 points from the day’s low to end the session 371 points or 1.17% higher at 32,114 points. The broader NSE Nifty-50 gained 98.6 points or 1.06% to finish the trading session at 9,380 points. The rally, led by banks and financials, saw private-sector lender IndusInd Bank gain 15.11% despite reporting a 16% fall in profits the previous day. Sun Pharma slipped 3.27%, followed by NTPC, Nestle, and HCL Tech.
It was bank stocks and financials that led the indices to surge back up from the day’s low. “Benchmark indices ended positive tracking global markets, led by financials. Hopes of a fiscal stimulus have given support to the markets. Stock specific news reactions are happening based on the results and management commentary. The sustainability of this rally depends on the easing of lockdown measures and the measures to get businesses back on track.
Nifty50 closed higher at 9380.90 level, +98.60 points, or +1.06 per cent. Nifty Support :9300 and 9250 Resistance : 9450 and 9550.
