Nifty jumps above 10,870 mark; Yes Bank, HDFC Bank stock lead
Benchmark indices jump-started the session at fresh lifetime highs tracking global markets and underpinned by gains in banks and fast moving consumer goods companies. Nifty Bank gained over 500 points after media report stated that the government is considering allowing 100% FDI in the banking sector.
The Nifty PSU Bank index, up 1.8%, was the top gaining sectoral index, led by near 2% gains in shares of State Bank of India.
The Nifty FMCG index gained 0.8% led by near 2% gains in shares of Hindustan Unilever, as the company reported a higher-than-expected Oct-Dec net profit.
Shares of Emami Paper Mills rose 3% after L&T mutual fund bought 5.42% stake in the company through multiple block deals on the BSE.
The BSE Mid-cap and BSE Small-cap indices were up 0.48% and 0.97%, respectively.
Volatility index India VIX slipped 1.10% at 13.7150.
Yes Bank (+4%), UPL (+3%), HDFC Bank (+2.5%), IndusInd Bank (+2.3%) and HDFC (+1.9%) were the top gainers on Nifty50.
Infratel (-2.6%), GAIL (-1%), Infosys (-0.85%), Hindalco (-0.80%) and IOC (-0.78%) were the top losers in today’s trade.
A total of 54 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.