This Article is From May 20, 2020

Sensex Ends Over 600 Points Higher Led By Gains In Banking, Pharma Shares

Strong buying interest in banking, financial services and pharmaceutical shares helped the markets extend gains to a second straight session.

Sensex Ends Over 600 Points Higher Led By Gains In Banking, Pharma Shares

HDFC, HDFC Bank and Reliance Industries were the top contributors to the gain in Sensex

Equity market benchmark indices S&P BSE Sensex and NSE Nifty 50 staged a sharp upmove in Wednesday's session to end higher for the second day in a row. Banking, financial services, auto and realty shares were among the leading gainers. The Sensex rose as much as 682 points and the Nifty 50 reclaimed its important psychological level of 9,050. For most part of the day, the benchmarks traded firmly higher and added to the gains in last hour of trade on the back of strong rebound in banking shares.

The Sensex ended 622 points or 2 per cent higher at 30,819 and the Nifty jumped 187 points or 2.11 per cent to settle at 9,067.

HDFC, HDFC Bank, Reliance Industries, Larsen & Toubro and ICICI Bank were among the top contributors to the Sensex. They collectively contributed over 400 points to the 30-share index.

All the 11 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Pharma index which rose 4 per cent. The Nifty Bank, Financial Services, Private Bank, Realty and Auto gauges also closed 2-3 per cent higher.

Mid- and small-cap shares also witnessed buying interest, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising over a per cent each.

Dr Reddy's Laboratories was the top Nifty gainer, ending 6 per cent higher at Rs 3,919 on the NSE. HDFC, Mahindra & Mahindra, Bharat Petroleum, GAIL India, Larsen & Toubro, UPL, Shree Cements and Eicher Motors were among the gainers.

On the flipside, Bharti Infratel, IndusInd Bank, Hero MotoCorp, Vedanta and Bharti Airtel were among the notable losers.