 "Sensex ends 380 points higher led by financials")
Markets ended the session a firm note on hopes of reforms coupled with strong rally in the frontline stocks.
The Sensex provisionally ended at 27,888 up by 380 whereas the Nifty closed at 8,395 up 111 points.
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Markets continue to remain resilient in afternoon trades with financials leading the rally on hopes of a slew of reforms in the two-day bankers' retreat. Adding to the optimism was the HSBC December PMI data which showed that India’s manufacturing activity picked up at its fastest pace in two years.
At 1435 hrs, the Sensex was up 341 points at 27,848 and the Nifty advanced 100 points to trade at 8,384. Earlier, in the day, the Nifty had crossed the 8,400 mark but failed to sustain at the level.
The broader markets too gained with the smallcap and midcap index up a percent each, though, marginally underperforming the BSE benchmark index which was up 1.3%.
All the sectoral indices on BSE were in green with gains of atleast 0.3%. Banks and Capital Goods indices up 1.5% were the top sectoral gainers.
Metal and Power indices up 1% was the other notable gainers.
Financial stocks advanced as the one-of-a-kind retreat started in Pune today. It’s being spearheaded by Prime Minister Narendra Modi along with Reserve Bank of India (RBI) Governor Raghuram Rajan and Finance Minister Arun Jaitley, will include all top bankers to address issues such as consolidation, bad loans, financial inclusion and capital needs.
From the Sensex pack, HDFC, Axis Bank, ICICI Bank, HDFC Bank and SBI were up 0.6-1.4% and were among the top gainers in noon deals.
IT majors are trading firm. TCS, Infosys and Wipro have gained 0.5% to 1.2%.
Metal stocks gained some sheen with Sesa Sterlite, Tata Steel and Hindalco up 1-2%.
FMCG names like ITC and HUL were flat to positive. HUL was almost unchanged while ITC gained 0.3% in an otherwise robust market.
However, auto names saw some selling pressure after yesterday's gains. M&M, hero MotoCorp and Bajaj Auto down 0.2-0.5% and were also the top losers among Sensex names.
The market breadth was positive on BSE. 1743 stocks advanced while 1118 stocks declined on BSE.
The Sensex provisionally ended at 27,888 up by 380 whereas the Nifty closed at 8,395 up 111 points.
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Updated at 14:35 PM
Markets continue to remain resilient in afternoon trades with financials leading the rally on hopes of a slew of reforms in the two-day bankers' retreat. Adding to the optimism was the HSBC December PMI data which showed that India’s manufacturing activity picked up at its fastest pace in two years.
At 1435 hrs, the Sensex was up 341 points at 27,848 and the Nifty advanced 100 points to trade at 8,384. Earlier, in the day, the Nifty had crossed the 8,400 mark but failed to sustain at the level.
The broader markets too gained with the smallcap and midcap index up a percent each, though, marginally underperforming the BSE benchmark index which was up 1.3%.
All the sectoral indices on BSE were in green with gains of atleast 0.3%. Banks and Capital Goods indices up 1.5% were the top sectoral gainers.
Metal and Power indices up 1% was the other notable gainers.
Financial stocks advanced as the one-of-a-kind retreat started in Pune today. It’s being spearheaded by Prime Minister Narendra Modi along with Reserve Bank of India (RBI) Governor Raghuram Rajan and Finance Minister Arun Jaitley, will include all top bankers to address issues such as consolidation, bad loans, financial inclusion and capital needs.
From the Sensex pack, HDFC, Axis Bank, ICICI Bank, HDFC Bank and SBI were up 0.6-1.4% and were among the top gainers in noon deals.
IT majors are trading firm. TCS, Infosys and Wipro have gained 0.5% to 1.2%.
Metal stocks gained some sheen with Sesa Sterlite, Tata Steel and Hindalco up 1-2%.
FMCG names like ITC and HUL were flat to positive. HUL was almost unchanged while ITC gained 0.3% in an otherwise robust market.
However, auto names saw some selling pressure after yesterday's gains. M&M, hero MotoCorp and Bajaj Auto down 0.2-0.5% and were also the top losers among Sensex names.
The market breadth was positive on BSE. 1743 stocks advanced while 1118 stocks declined on BSE.