Sensex, Nifty Gain For Third Session In A Row Led By Banking Shares

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The S&P BSE Sensex and NSE Nifty 50 indexes rose for third session in a row on Thursday, led by gains in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Hindustan Unilever. The benchmarks staged a gap-up opening and extended gains in noon deals on the back of broad-based buying interest led by banking and financial services shares. The Sensex rose as much as 609 points to hit an intraday high of 47,053.40 and Nifty 50 index touched an intraday high of 13,771.75.

The Sensex ended 529 points or 1.14 per cent higher at 46,973.54 and Nifty 50 index climbed 148 points or 1.09 per cent to close at 13,749.25.

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Bank index’s nearly 2 per cent gain. The Nifty Financial Services, Pharma and Private Bank indexes also rose over 1 per cent each.

On the other hand, IT, media and real estate shares witnessed selling pressure.

Mid- and small-cap shares ended on a mixed note; the Nifty Midcap 100 index ended on a flat note, while Nifty Smallcap 100 index rose nearly 1 per cent.

Shares of biscuit maker Mrs Bectors Food Specialities more than doubled on  debut on Thursday, in the latest sign of strong investor appetite for the country’s food sector amid the COVID-19 pandemic.

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