Sensex, Nifty Clock Six-Week Closing Highs; Banking, IT Stocks Lead Gains

Domestic share markets registered a six-week closing high on Thursday, boosted by gains in heavyweight banking and IT stocks on expectations of a fresh stimulus package from the government to soften the damage from the coronavirus pandemic.

The NSE Nifty 50 index ended 1.38 per cent higher at 9,313.90, and the leaner S&P BSE Sensex settled at 31,863.08, up 1.54 per cent from the previous close .

Kotak Mahindra Bank closed up 8.5 per cent, recording its best day since March 25. The private-sector lender ended higher for a second straight session after it approved a capital raising plan on Wednesday.

Larger rivals HDFC Bank and ICICI Bank climbed between 2.8 per cent and 5 per cent.

IT giants Tata Consultancy Services and Infosys jumped about 6 per cent each.