Sensex jumps 400 points; Nifty hits 25,686 as banking stocks lift early trade
Sensex jumps 400 points; Nifty hits 25,686 as banking stocks lift early trade
Indian indices open higher with banks leading the rally, Sensex up ~401 points and Nifty above 25,680 as markets kick off the week on a positive note.
Indian benchmark indices opened the week on a firm footing, with banking and financial heavyweights lending support amid a broadly positive Asian trend. The BSE Sensex rose 400.86 points, or 0.48 per cent, to 83,215.57 at 9:18 am. The index had opened at 82,906.83 and touched an intraday high of 83,270.15, after closing at 82,814.71 in the previous session. The broader Nifty 50 advanced 114.85 points, or 0.45 per cent, to 25,686.10. Financials led the charge.
Banking and financial stocks were at the forefront of the rally. Axis Bank climbed over 1.5 per cent, while HDFC Bank gained around 1 per cent in early deals. Bajaj Finance, ICICI Bank, Kotak Mahindra Bank and State Bank of India also traded in the green, providing significant support to the indices. Reliance Industries added nearly 0.8 per cent, further bolstering the Sensex, while Adani Ports, Tech Mahindra and Bharti Airtel were among other prominent gainers. The gains in financial counters helped offset weakness in select IT and pharma stocks. Infosys and Asian Paints slipped around 0.3–0.4 per cent, while Cipla and ONGC were among the sharper losers in early trade. A few mid- and small-cap counters, including KWIL, saw steeper declines.
