Sensex Today: Indian equities snapped their three-day losing run as firm global cues supported the sentiment. The S&P BSE Sensex surged 261 points, or 0.29 per cent, to settle at 66,428. It, however, ended off the day’s high of 66,560.
On the National Stock Exchange (NSE), the Nifty50 shut shop 80 points, or 0.40 per cent, higher at 19,812. The index hit intraday high of 19,776.
Among the lead gainers, BPCL, Power Grid, SBI Life, HDFC Life, Coal India, Bajaj Auto, Kotak Bank, Tech M, and ITC gained between 1 per cent and 2 per cent. Besides, Infosys, HCL Tech, Bajaj Finance, Cipla, Airtel, HDFC Bank, Bajaj Finserv, Dr Reddy’s Labs, and LTI Mindtree edged higher in the range of 0.5 per cent to 0.9 per cent.
Meawhile, broader indices continued to shine with the BSE MidCap and SmallCap indices gaining 0.39 per cent and 0.7 per cent, respectively.
Among sectors, all key indices closed in the green zone led by the Nifty Financial Services index (0.6 per cent).
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The market scenario is changing fast. There is a risk-on mood in the market triggered by the hope that the Israel-Hamas conflict will not spread. President Biden’s upcoming trip to Israel and Jordan and the two US aircraft carriers sent to the Eastern Mediterranean is a clear message to Iran and Hezbollah not to intervene in the war. The market hopes that the war will remain localised, and this is the reason why the market remains hopeful.”
“The HDFC Bank results, particularly the bullish guidance and commentary, are positive and the bank, which has the highest weightage in the Nifty, can support the market. Results from the other leading banking names too will be good,” he further said.
“Capital goods and autos continue to be on strong wicket,” Vijayakumar added.
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