Sensex Up Over 150 Points, Nifty Above 15,850, Led By Financial Stocks

Interglobe Aviation and SpiceJet gained over 2 per cent each on BSE after Civil Aviation Ministry increased the seating capacity on domestic flights from 50 per cent to 65 per cent

Sensex Up Over 150 Points, Nifty Above 15,850, Led By Financial Stocks

HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finance and ICICI Bank have gained 1-2 per cent each

The benchmark indices have maintained their gains in noon trading on the back of buying interest in financial shares. At 12:50 pm, the BSE Sensex was trading at 53,021.33, higher by 143.98 points or 0.27 per cent and the NSE Nifty was at 15,883, up 49 points or 0.31 per cent.

In the currency markets, the rupee erased early gains and was trading flat at 74.31 per dollar, amid buying in the domestic equity markets.

On the stock-specific front, Ultratech Cement soared by more than 3 per cent to Rs 6,974.55 to top the gainers list on the BSE. Financial stocks are also trading strong, with HDFC Bank, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finance and ICICI Bank gaining 1-2 per cent each on the BSE.

Aviation shares, including Interglobe Aviation and SpiceJet gained over 2 per cent each on the BSE after the Civil Aviation Ministry increased the seating capacity on domestic flights from 50 per cent to 65 per cent. The 65 per cent cap on domestic aviation capacity will be operational until July 31 or till further orders, the ministry added.

On the other hand, information technology stocks are trading weak, with Tech Mahindra, TCS and HCL Tech losing 1-2 per cent each on the BSE.

In the primary market, Clean Science & Technology and GR Infraprojects IPOs will open for subscription tomorrow, i.e. July 7.

The BSE market breadth is positive; out of 3289 stocks traded on the BSE, there are 2,005 advancing shares as against 1,144 declines.