INSUBCONTINENT EXCLUSIVE:
All the 11 sector gauges compiled by the NSE ended higher led by the Nifty Bank index's 4% gain.The Indian equity benchmarks surged on
Friday on the back of strong buying interest in banking and financial services shares after the country's largest lender by assets
reported record profit of Rs 6,451 crore in quarter ended March 2021
New coronavirus infections remaining below the 300,000 mark for a fifth straight day, also added to bullish sentiment on Dalal Street,
The Sensex surged as much as 1,013 points to hit an intraday high of 50,577.97 and Nifty 50 index touched an intraday high of 15,183.95.The
Sensex climbed 975 points or 1.97 per cent to close at 50,540 and Nifty 50 index surged 269 points or 1.81 per cent to close at
15,175.Banking and financial services shares witnessed strong buying interest after the country's largest lender - State Bank of India's
- net profit jumped of 80 per cent in March quarter to record profit of Rs 6,451 crore
Its asset quality saw an improvement as its gross non-performing assets came in at 4.98 per cent as against 6.15 per cent during the March
Gross NPAs stood at Rs 1,26,389 crore.All the 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Bank
index's 4 per cent or 1,300 point gain
Nifty PSU Bank, Private Bank and Financial Services indexes also rose between 3-4 per cent.Mid- and small-cap shares also witnessed buying
interest but underperformed their larger peers with a gain of 0.9 per cent and 0.5 per cent each respectively.State Bank of India was top
Nifty gainer, the stock climbed nearly 5 per cent to close at Rs 403 after stellar March quarter earnings
HDFC Bank, IndusInd Bank, ICICI Bank, Axis Bank, HDFC, Kotak Mahindra Bank, Bharti Airtel, Mahindra - Mahindra and UPL were also rose
between 1.5-4.75 per cent.On the flipside, Power, Grid, Indian Oil, Eicher Motors and Dr Reddy's Labs were among the notable losers.The
overall market breadth was extremely positive as 1,959 shares ended higher while 1,161 closed lower on the BSE.
