The S-P BSE Sensex and NSE Nifty 50 Indexes extended their rally to second day paced by gains in banking, auto and financial services shares.
The benchmarks opened higher and extended their rally led by HDFC Bank, HDFC, ICICI Bank and Kotak Mahindra Bank.
The Sensex rose as much as 480 points and Nifty briefly moved above 11,150 but selling pressure ITC, Tata Consultancy Services, Yes Bank and Tech Mahindra capped the upmove for benchmarks.The Sensex ended 255 points or 0.68 per cent higher at 37,582 and the NSE Nifty 50 Index climbed 77 points or 0.7 per cent to close at 11,110.Six of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty Auto Index's 2 per cent gain.
Nifty Financial Services, Bank and Private Bank sector gauges also rose between 1 and 1.5 per cent each.On the other hand, Nifty Metal Index was top loser, down 0.9 per cent.Indiabulls Housing Finance was top gainer in the Nifty 50 basket of shares, the stock rose 15 per cent to close at Rs 510 after a report suggested that Indiabulls founder will cede control after Lakshmi Vilas Bank merger with itself.Eicher Motors, Titan, Maruti Suzuki, Bajaj Finserv, HDFC Bank and Vedanta also rose between 2.3 and 4.7 per cent each.On the flipside, Yes Bank was top loser, the stock dropped 8 per cent to close at Rs 82.20.
Cipla, Tech Mahindra, Hindalco, Coal India, Tata Steel and Zee Entertainment were also among the laggards.The overall market breadth was positive as 1,132 shares closed higher while a little over 600 shares closed lower on the BSE.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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