Sensex jumps 629 points on broad-based buying; Nifty Bank up 3.7%
The benchmark indices ended over 1.5 per cent higher on Thursday amid across-the-board buying.
Among headline indices, the S&P BSE Sensex ended 629 points, or 1.65 per cent higher at 38,697 levels while the Nifty50 index topped the 11,400-mark to settle at 11,417, up 1.5 per cent. The volatility index, India VIX, slipped nearly 6.5 per cent to 18.27 levels.
IndusInd Bank (up over 12 per cent) and Bajaj Finance (up over 5 per cent) were the top Sensex gainers, followed by Axis Bank, ICICI Bank, and Tech Mahindra (all up 4 per cent).
On a weekly basis, Sensex gained 3.4 per cent while Nifty added 3.3 per cent. The markets will remain closed on Friday (October 2) on account of Gandhi Jayanti.
The trend among Nifty sectoral indices was positive, led by Nifty Private Bank index, up over 4 per cent. The Nifty Bank index rallied 3.7 per cent to 22,246 levels.
In the broader market, the S&P BSE MidCap index ended 0.73 per cent higher at 14,813 levels while the S&P BSE SmallCap index ended at 14,970, up 0.69 per cent.
Shares of IndusInd Bank recorded its sharpest intra-day rally in over five months after the stock rallied 13 per cent to Rs 598 on the BSE on Thursday on the back of heavy volumes. Earlier, on April 28, 2020, the stock of the private sector lender had zoomed 18 per cent in the intra-day trade.
Shares of Gujarat Ambuja Exports zoomed 20 per cent to Rs 129.90, also its 52-week high on the BSE in intra-day trade on Thursday, as the stock split and was trading at a face value of Re 1. The company has fixed Monday, October 5, 2020, as the record date for the purpose of sub-division of equity shares of the company having face value of Rs 2 each to Re 1 each. The board of directors of the company at its meeting held on July 25, 2020 had approved the sub-division of equity shares of the company.
Shares of Punjab National Bank (PNB) slipped 3 per cent to Rs 27.65 on the BSE in intra-day trade on Thursday in otherwise firm market, after the bank reported a fraud worth Rs 1,203 crore by Sintex Industries. The stock of state-owned lender was trading lower for the third straight day. It is close to its 52-week low price of Rs 26.30 touched on May 20, 2020.
Shares of Bajaj Auto rallied 8 per cent to Rs 3,112 on the BSE on Thursday after reporting a better-than-expected 10 per cent year on year (YoY) increase in its total September sales at 441,306 units, on the back of its highest-ever export sales. The two- and three-wheeler manufacturer had sold 402,035 units in the year-ago period.
Shares of Computer Age Management Services (CAMS) were listed at Rs 1,518, a 23 per cent premium against the issue price of Rs 1,230 per share on the BSE. At 10:04 am, the stock was trading at Rs 1,493, 21 per cent higher against the issue price. It touched a low of Rs 1,480 and a high of Rs 1,550 on the BSE so far. As many as 4.9 million equity shares changed hands on the counter on the BSE.
Shares of Chemcon Speciality Chemicals, on Thursday, made a stellar debut at the bourses, listing at Rs 731, a 115 per cent premium against issue price of Rs 340 per share on the BSE. At 10:01 am, the stock was trading at Rs 669, up 97 per cent against its issue price. The stock has touched a high of Rs 743.80 and low of Rs 650, so far. Around 299,000 million shares have changed hands on the counter on the BSE.
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