MUMBAI: Extending the rally to the fifth straight day, the Indian stock market’s benchmark Sensex rose by 284 points on Thursday, led by good buying support in banking, financial and IT stocks.
The 30 stock S&P BSE Sensex ended the day at 55,681.95 points, which is 284.42 points higher when compared with its previous day’s close at 55,397.53 points.
The market witnessed a volatile session. The Sensex started the day in the negative at 55,391.93 points and fell to a low of 55,270.75 points in the morning session. It turned positive in the morning session itself and touched a high of 55,738.49 points in the intra-day. This is the fifth straight day of the rally in the Indian equities. The Sensex had gained 629.91 points on Wednesday.
The broader Nifty 50 of the National Stock Exchange rose 84.40 points to 16,605.25 points against its previous day’s close at 16,520.85 points. The Nifty started the day in the red at 16,523.55 points and touched a low of 16,483.90 points in the morning trade. The index touched a high of 16,626.95 points in the intra-day. The index extended the rally to the fifth straight day. It had gained 180.30 points on Wednesday.
IndusInd Bank surged 7.88 per cent to Rs 948.15 after announcing impressive quarterly numbers. IndusInd Bank Limited on Wednesday reported a net profit of Rs 1,631 crore for the first quarter of the current financial year as compared to Rs 1,016 crore recorded in the corresponding quarter of the previous year, registering a year-on-year growth of 61 per cent.
Pre-Provision Operating Profit (PPOP) of the bank stood at Rs 3,431 crore for the quarter ended June 30, registered a growth of 10 per cent over the corresponding quarter of the previous year at Rs 3,121 crore. The PPOP/advance ratio for the quarter ended June 30 stood steady at 5.70 per cent.
The bank’s net interest income for the quarter ended June 30, stood at Rs 4,125 crore, grew by 16 per cent year-on-year and 4 per cent quarter-on-quarter basis.
Bajaj Finance surged 3.27 per cent to Rs 6,268.80, Bajaj Finserv rallied 2.52 per cent to Rs 12,730.10 and Asian Paints rose 1.91 per cent to Rs 3069.30. Tech Mahindra, L&T, Axis Bank, Power Grid Corporation, Nestle India, Bharti Airtel, Infosys and Mahindra & Mahindra were among the major Sensex gainers.
Only four of the 30 scrips that are part of the benchmark Sensex closed in the red. Dr Reddy’s Laboratories slipped 1.89 per cent to Rs 4,373 andKotak Bank slipped 1.05 per cent to Rs 1805.75. The index heavyweight Reliance Industries Ltd closed 0.56 per cent lower at Rs 2,487.40. HDFC Bank slipped 0.34 per cent to Rs 1,361. (ANI)