Market snaps three-day losing streak, HDFC twins shine
A firm trend in financial, realty, tech and IT counters supported the domestic equities. Sensex gained 446.03 points or 0.71% to settle at 63,416.03 points.
NEW DELHI: Equity benchmark BSE Sensex ended gained after a three-session losing streak. The index closed nearly 450 points higher on Tuesday, helped by intense buying in HDFC twins, ICICI Bank and Axis Bank.
A firm trend in financial, realty, tech and IT counters supported the domestic equities. Sensex gained 446.03 points or 0.71% to settle at 63,416.03 points. During the day, it gained 497.54 points or 0.79% to 63,467.54 points.
NSE Nifty rose 126.20 points or 0.68% to end at 18,817.40 points. “Short covering ahead of Wednesday’s F&O expiry may have triggered a sharp rebound in key benchmark indices despite a lacklustre trend in Asian and European indices.
State Bank of India was the best performer in the Sensex chart, rising 1.59%, followed by HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv. The merger of housing finance major HDFC with the country’s largest private lender HDFC Bank will be effective from July 1, HDFC Chairman Deepak Parekh said on Tuesday.
The stock of HDFC jumped 1.59% to settle at Rs 2,762.50 apiece on the BSE. During the day, it jumped 2.26% to Rs 2,781. Shares of HDFC Bank advanced 1.38% to end at Rs 1,658 per piece after gaining 2.23% to Rs 1,672 during the day. Maruti, ITC and Hindustan Unilever were the laggards.
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