Broader market indices ended in the red after traders booked profits. However, the volatility indicator cooled off. The return of FIIs also supported the market.
The 30-share pack Sensex climbed 546.41 points or 1.02 per cent to close at 54,369.77. Its broader peer NSE Nifty advanced 128.05 points or 0.79 per cent to 16,258.80. Both indices closed at record high levels.
However, overall investor wealth came down by Rs 49,576 crore as the total market cap of BSE-listed companies stood at Rs 239.55 lakh crore.
“Domestic market extended its rally as banking and finance stocks started to rebound after good recent earnings, upbeat economic data and in anticipation of RBI policy. The market is expecting MPC to maintain the supportive measures and leave the rates unchanged,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- IIFL Wealth soars 13 per cent after highest ever quarter profit
- SBI rises 2 per cent after record quarterly profits in Q1
- India VIX, a barometer of volatility, falls about 4 per cent
- IPO watch: Windlas Biotech subscribed 2.7x; Exxaro Tiles 3.72x; Krsnaa Diagnostics 1.71x and Devyani International 2.38x
Among the blue-chip names, HDFC was the top gainer for another day, rising 4.59 per cent. Kotak Mahindra Bank, ICICI Bank, SBI, HDFC Bank, Axis Bank, Cipla, Dr Reddy’s Labs, and Reliance Industries were other gainers.
Grasim was the top loser in the Nifty pack, falling 2.47 per cent. Titan, Tata Motors, Adani Ports, Hindalco, BPCL, Nestle India, Sun Pharma, UltraTech Cements, and Tata Consumer were others that ended in the red.
Broader market indices ended lower underperforming their headline peers. Nifty Smallcap fell 1.01 per cent and Nifty Midcap declined 1.19 per cent. Nifty 500, the broadest index on NSE, ended up 0.22 per cent.
Godrej Industries, AU Small Finance Bank, M&M Financial Services, PNB Housing, Trident and Rain Industries were top gainers from mid and smallcap indices, climbing in the range of 3-5 per cent.
Birla Corporation, Kaveri Seeds, Balrampur Chini Mills, PI Industries, Indiabulls Housing Finance, Dhani Services, were major losers from broader market space, falling in the range of 4-6 per cent.
Sectoral matrix was mixed on NSE. Nifty Financial Service climbed 2.59 per cent, followed by Nifty Bank that added 2.33 per cent. Nifty Realty was the top loser, down 1.67 per cent, followed by Nifty Media.
Market breadth was in favour of losers as 1,137 stocks ended in the green, while 2,119 names settled with cuts. As many as 467 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 16 names hit 52-week lows, mostly from the microcap space. About 345 stocks hit upper circuit limits and 330 lower circuit limits.
European markets were trading higher. London-based FTSE was up 0.38 per cent while Paris and Frankfurt advanced 0.51 per cent and 0.86 per cent, respectively. In Asia, barring Japan that slipped 0.21 per cent, all markets closed with gains.