Market Wrap: Sensex ends 216 pts up, Nifty tops 11,340; HDFC Bank adds 2.6%

Equity market ended firm on Wednesday, with the S&P BSE Sensex closing over 200 points higher, powered by financials and energy stocks.

The S&P BSE Sensex remained rangebound for most of the day but witnessed a late surge to end at 37,752, up 217 points or 0.58 per cent. Blue-chips like IndusInd Bank, Yes Bank, Reliance and Axis Bank were among the chief contributors. The 50-share index, Nifty50 on the National Stock Exchange (NSE) had a humbler day, but still added 41 points, or 0.4 per cent, to close at 11,341.70.

In the broader market, the S&P BSE Midcap index ended 64.91 points, or 0.43 per cent lower at 15,127.93, while the S&P BSE SmallCap index ended at 14,874.69, down 45.81, or 0.31 per cent.

BUZZING STOCKS

Among individual stocks, HDFC Bank zoomed over 2.5% to end at 2,226.10 on the back of heavy volumes. On the other hand, SpiceJet slipped more than 2 per cent to Rs 77.15 after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.

Among sectoral indices, the Nifty Bank index gained 1.64 per cent higher with IndusInd Bank and Yes Bank being the top gainers. The Nifty PSU Bank index also climbed nearly 1.64 per cent led by gains in Canara Bank and J&K Bank.

Shares of InterGlobe Aviation, parent of IndiGo, hit a 10-month high of Rs 1,325, up 4 per cent on Wednesday, even when other airline stocks slipped up to 8 per cent in the intra-day trade.

The stock of InterGlobe Aviation hit its highest level on May 2, 2018. It rallied 90 per cent from its 52-week low level of Rs 697 touched on September 10, 2018, as compared to a 10 per cent rise in the S&P BSE Sensex. It hit an all-time high level of Rs 1,520 on April 20 last year.

SpiceJet dipped 8 per cent to Rs 72.50, while Jet Airways slipped 4 per cent to Rs 237 in the intra-day trade, after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.