Sensex Surges Over 400 Points, Nifty Above 11,350; Bajaj Finance Top Gainer

Written by Taasir

Taasir English News Network | Uploaded on 17-May-2019

The S&P BSE Sensex and NSE Nifty 50 Indexes extended gains paced by buying interest in Bajaj Finance, Bajaj Finserv, Hero MotoCorp, Hindustan Unilever, Kotak Mahindra Bank and Britannia Industries. Earlier in the day, Sensex and Nifty opened higher and built on the rally helped by gains in financials, auto, banking and capital goods shares. The Sensex rose as much as 415 points to hit intraday high of 37,808 and the NSE Nifty 50 Index surged as much as 116 points to surpass its crucial psychological level of 11,350.

As of 1:36 pm, the Sensex surged 391 points or 1.05 per cent to 37,785 and the NSE Nifty 50 Index climbed 0.94 per cent or 106 points to 11,363.

Fourteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE FMCG Index’s 1.95 per cent gain. Finance, Auto, Bankex, Capital Goods and Consumer Discretionary Goods and Services Indexes advanced between 1 and 1.6 per cent each.On the flipside, S&P BSE Healthcare Index was top loser, down 1.14 per cent.

Mid- and small-cap shares were witnessing buying interest as the S&P BSE MidCap Index rose 0.84 per cent and the S&P BSE SmallCap Index advanced 0.55 per cent.Among the individual shares, Bajaj Finance rose as much as 5.98 per cent to Rs. 3,928 after its net profit in March quarter rose 57 per cent to Rs. 1,176 crore.

In the Nifty 50 basket of shares, Bajaj Finance was top gainer. It was followed by Bajaj Finserv, Hero MotoCorp, Hindustan Unilever, Maruti Suzuki, Kotak Mahindra Bank and Larsen & Toubro.On the other hand, Vedanta, Hindalco, Adani Ports, Dr Reddy’s Sun Pharma, Cipla, JSW Steel, Cipla, JSW Steel and Tata Motors were among the losers.The overall market breadth was positive as 1,269 shares were trading higher while 1,067 were trading lower on the BSE.

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