- Sensex soars 293.12 points to touch an all-time high of 40,344.99
- The 30-scrip index had last scaled a record peak in June this year
- Sensex on course to close higher for fourth session in a row
Here are 10 things to know about the big move in stock markets today:
Yes Bank shares were up 28.87 per cent at the time after soaring nearly 35 per cent in their biggest single-day jump in four weeks, following the private sector lender's announcement that it had received a binding offer of $1.2 billion from a global investor. Yes Bank shares were the top percentage gainer on both benchmark indices.
Infosys, SBI and Yes Bank were the top contributors to the gain in Sensex, together accounting for a gain of 234.47 points on the index.
The Nifty Bank index - comprising shares of 12 major lenders in the country - rose as much as 1.40 per cent. Besides Yes Bank, public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) - rising 8.97 per cent and 4.47 per cent respectively - were among the prominent gainers in the sector.
Analysts say positive earnings from large cap corporates and hopes of a pickup in the economy supported investors' sentiment. They however expected some volatility ahead of the expiration of monthly derivatives (futures & options) contracts due by the end of the session.
"Sentiments have turned recently, most results are decent and there have not been any disappointments so far," news agency Reuters quoted Siddhartha Khemka, head of retail research at Motilal Oswal Securities, as saying.
Indian Oil Corporation shares rose around 1 per cent ahead of the earnings announcement by the country's largest fuel retailer.
"Growth is improving, festive demand has been better than expected, and the Fed rate cut is generally positive for emerging markets... the current momentum could continue on the back of positive factors," Mr Khemka added.
The markets were on course to close higher for a fifth day running, and were set to finish the month with a gain of more than 3 per cent each.