Sensex extends rally to 6th straight day; closes 390 points higher

Mumbai (Maharashtra) [India], July 22 (ANI): Extending the rally to the sixth straight session, the Indian stock market's benchmark Sensex closed 390 points higher on Friday led by strong buying support in infra, banking and financial stocks.
The 30 stock S&P BSE Sensex closed at 56,072.23 points, 390.28 points or 0.70 per cent higher than its previous day's close at 55,681.95 points.
Earlier, the Sensex started the day in the positive at 55,800.84 points and rose to a high of 56,186.05 points in the intra-day. The Nifty touched a low of 55,685.45 points in the intra-day.
This is the sixth straight day of the rally in the Indian equities markets. The Sensex had gained 284.42 points or 0.51 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange rallied 114.20 points or 0.69 per cent to 16,719.45 points against its previous day's close at 16,605.25 points.
The Nifty has extended the rally to the sixth straight day. The Nifty 50 had gained 84.40 points or 0.51 per cent on Thursday.
There was strong buying support in banking and financial stocks.
HDFC Bank surged 2.34 per cent to Rs 1392. HDFC surged 2.37 per cent to 2296.55. HDFC twins were among the biggest Sensex gainers.
Axis Bank surged 2.14 per cent to Rs 730.95. ICICI Bank rose 1.74 per cent to Rs 800. Kotak Bank surged 1.42 per cent to Rs 1826.40.
UltraTech Cement surged 5.03 per cent to Rs 6437.
The index heavyweight Reliance Industries Limited closed 0.62 per cent higher at Rs 2502.90 ahead of the announcement of the Q1 earnings numbers.
Twelve of the 30 scrips that are part of the benchmark Sensex closed in the red.
Infosys slipped 1.73 per cent to Rs 1506.30. NTPC fell 1.19 per cent to Rs 148.90. Power Grid Corporation, Wipro, IndusInd Bank, HCL Technologies, Tech Mahindra and Tata Consultancy Services were among the major Sensex losers. (ANI)