Sensex, Nifty Resume Upmove After A Day's Pause Led By Metal, Banking Shares

The S&P BSE Sensex and NSE Nifty 50 indexes resumed their up move after a day's pause in the previous session led by gains in metal, banking and financial services shares. The benchmarks witnessed a sharp selloff in the previous session after gaining for ten sessions in a row. Meanwhile, in today's session the Sensex rose as much as 397 points and Nifty reclaimed its important psychological level of 11,750. HDFC Bank, Infosys, Kotak Mahindra Bank, ICICI Bank and Axis Bank were among the top movers in the Sensex.

The Sensex advanced 255 points to close at 39,983 and Nifty 50 index rose 82 points to close at 11,762.

Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's 4 per cent surge. Nifty Bank, Financial Services, Pharma, Private Bank and Realty indices also rose between 1.5-2 per cent each.

On the other hand, Nifty Media index was top loser, down 0.4 per cent.

Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 1 per cent each.

Tata Steel was top gainer in the Nifty 50 basket of shares, the stock rose 5 per cent to close at Rs 394. JSW Steel, Bharat Petroleum, Hindalco, Divi's Labs, HDFC Bank, Grasim Industries and Shree Cements also rose 2.5-6 per cent.

On the flipside, UPL, HCL Technologies, Mahindra & Mahindra, Asian Paints, Reliance Industries, Nestle India and Sun Pharma were among the laggards.

The overall market breadth was positive as 1,478 shares ended higher while 1,156 closed lower on the BSE.