Sensex skyrockets up by 792 points
Registering a stupendous 2 per cent gain, the benchmark indices recovered as the central government announced the rollback of FPIs surcharge, a fiscal package for state-owned banks and stimulus for auto sector to revive the economy on Friday.
After initial volatility, the market staged a strong northward surge supported by banks, realty and media stocks. BSE Sensex closed at 37,494.12, up by 792.96 points or 2.16 per cent, while Nifty50 reclaimed 11,000 level and closed at 11,057.85, up by 228.50 points or 2.11 per cent on Monday. Bank Nifty gained 951 points to close at 27,951.35, up by 3.68 per cent.
Market witnessed a broad-based uptrend. On the BSE exchange, 1,698 companies advanced, while 805 declined and 136 remained unchanged.
Among the top gainers of Sensex were Yes Bank up by 6.33 per cent, HDFC up by 5.24 per cent, Bajaj Finance up by 4.66 per cent, HDFC Bank up by 4.29 per cent, ICICI Bank up by 4.09 per cent and L&T up by 3.63 per cent.
Index heavyweights HDFC twins contributed most to the index gains, with HDFC bank contributing positive 195.26 points, followed by HDFC 180.35 points and ICICI Bank 101.97 points. Other significant contributors included L&T, ITC and Kotak Bank contributing around 50 points each.
Sectorally, all indices except Nifty Metals closed in green. The indices that gained the most were Nifty Realty up by 3.74 per cent, Nifty Media up 3.55 per cent and Nifty FMCG up 1.59 per cent. Nifty Pharma, Nifty Auto and Nifty IT were up 0.56, 0.49 and 0.47 per cent, respectively.