Closing Bell: Frontline indices surge over 1%; Nifty reclaims 18,000 level
Domestic equity bourses Sensex and Nifty50 finished higher on the first trading day of the week amid broad-based gains led by financial and IT stocks, as Nifty closed above 18,000 for the first time since September 15.
Indian market climbed over 1% on Monday to an over one-month high and extended their weekly gains to the third week. Today's rally was mostly driven by hopes that major central banks shift away from ultra-aggressive rate hike policy. Both headline indices jumped over 5% in October due to corporate earnings reports and anticipations for major central banks to embrace a less forceful approach.
At the closing bell on October 31, the 30-share S&P BSE Sensex rose 786.74 points, or 1.31%, to end at 60,746.59, and the NSE Nifty 50 index ascended 225.40 points, or 1.27%, to end at 18,012.20. Both benchmarks had closed with gains in their previous two sessions.
Top Nifty gainers of the day were UltraTech Cement, Eicher Motors, M&M, HDFC and Sun Pharma, while losers included Apollo Hospitals, Dr Reddy’s Labs, NTPC, IndusInd Bank and Britannia Industries.
Sector-wise, all the indices finished in the green with the Nifty Auto, Infra, Information Technology and Pharma climbing 1% each. In the broad market, the BSE midcap index was up 1% and smallcap index added 0.5%.
On the Bombay Stock Exchange, Auto, Capital Goods, Healthcare, Information Technology and Oil & Gas were up 1% each, while Bank, FMCG, Power and Realty gained 0.5% each.
Among the top buzzing stocks, Bharti Airtel, Karnataka Bank, Sun Pharmaceutical Industries, Kalpataru Power Transmission, and Cummins India touched their 52-week high on the BSE.
Market participants now await more financial results from India Inc for domestic cues, with Bharti Airtel, Larsen & Toubro and Tata Steel due to post their earnings later in the day.
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