Sensex Off Day’s High, Up Over 100 Points, Nifty Firm Above 7,850


12:33 p.m.: Buying interest was visible across the sectors with realty stocks leading the sectoral charts. The BSE Realty index was up 1.7 per cent. It was followed by BSE Bankex, IT and Oil & Gas indices.

11.36 a.m.: Markets traded firm led by broad based buying. Sensex was up 156 points, while the 50-shares Nifty traded 50 points higher at 7,899.

ICICI Bank, Asian Paints, Power Grid, Tata Motors DVR and Hindalco Industries were the prominent gainers in the index. Meanwhile, recent gainers like Zee Entertainment, HUL, Aurobindo Pharma, Maruti Suzuki witnessed profit booking.

Broader markets also traded higher, the BSE midcap and smallcap indices gained 0.55 per cent and 0.87 per cent respectively.

10.46 a.m.: Markets were off day’s high as traders book profit in recent gainers. Sensex was up 132 points at 25,730 and the 50-shares Nifty traded 41 points higher at 7,890.

ICICI Bank was the top gainer in Nifty, up 2.63 per cent. Traders say ICICI Bank will be the biggest beneficiary of the Bankruptcy Bill.

9.45 a.m.: Markets extended gains as banking and IT stocks witnessed buying interest. Sensex was up 225 points at 25,822, while the Nifty was above the 7,900 mark. Nifty Bank and Nifty IT sub-indices were up over 1 per cent each.

9.20 a.m.: Indian stock markets bucked global trend to trade higher on Thursday, buoyed by passage of Bankruptcy Bill in Parliament. The Sensex jumped over 200 points, while the Nifty inched closer to the 7,900 levels, after rising over 40 points.

Gains were led by banking shares, with the Nifty Bank – the National Stock Exchange’s sub-index of banking shares – rising 0.7 per cent. Traders attributed the outperformance in banking shares to the passage of Bankruptcy Bill, which aims to complete the insolvency process of companies in 180 days, helping lenders in faster recovery of their loans.

Private lender ICICI Bank was the top gainer in Nifty, up 3 per cent. Axis Bank, Bank of Baroda and State Bank of India also traded with over 1 per cent gains.

Among other stocks, Asian Paints jumped 2 per cent, after its March quarter earnings beat Street estimates. Asian Paints’ sales volume grew 13 per cent in Q4.

Hindustan Unilever was the top loser in Nifty, down 0.7 per cent, followed by Zee Entertainment, which was down nearly 0.5 per cent. The two stocks witnessed profit taking after recent gains.

Meanwhile, other Asian markets traded with minor losses recovering from day’s low.

Overnight, US markets ended lower. The Dow Jones index posted its biggest loss since February 11 as consumer discretionary shares witnessed selling pressure.