Sensex, Nifty Resume Up Move After A Day’s Pause Led By IT, Banking Shares

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The S&P BSE Sensex and NSE Nifty 50 indexes resumed their up move after a day’s pause in the previous session led by gains in information technology, banking and telecom shares. The benchmarks opened higher but turned negative as banking shares witnessed selling pressure. However, late buying in banking and financial services shares led to recovery in the last hour of trading. The Sensex rose over 400 points at the day’s highest level and Nifty 50 index touched an intraday high of 12,892.45 before hitting an intraday low of 12,730.25.

The Sensex ended 282 points higher at 43,882 and Nifty 50 index rose 87 points to close at 12,859.

All the 19 sector gauges, barring the index of energy shares, ended higher led by the S&P BSE Telecom index’s nearly 5 per cent gain. FMCG, consumer durables, power, banking, auto and IT indexes also rose between 1-2.8 per cent each.

Mid- and small-cap shares also witnessed buying interest as the S&P BSE MidCap index climbed 1.22 per cent and S&P BSE SmallCap index advanced 0.77 per cent.

Gland Pharma shares made a strong market debut on Friday (November 20). The shares opened for trading at ₹ 1,701 on BSE against issue price of ₹ 1,500, listing at a premium of 13.4 per cent. The stock surged as much as 23 per cent from issue price to hit an intraday high of ₹ 1,850. The pharmaceutical company’s initial public offer (IPO), which closed on November 11, was subscribed two times.

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