Sensex ends 995 pts up, Nifty above 9,300 as banks rally
The S&P BSE Sensex ended higher 995.92 points or 3.25% at 31,605 while the NSE Nifty 50 index settled at 9,316, up 285.90 points or 3.2%.Updated: May 27, 2020 15:51 IST
Domestic equity markets snapped a two-day losing streak on Wednesday to end more than 3% higher on the back on sharp gains by bank stocks.
The S&P BSE Sensex ended higher 995.92 points or 3.25% at 31,605 while the NSE Nifty 50 index settled at 9,316, up 285.90 points or 3.2%.
Out of the 30 shares on Sensex, 24 ended in the green with Axis Bank closing over 14%. Axis Bank was followed by ICICI Bank at nearly 9%, HDFC Bank at 5.91% and Indus Bank at 5.84%.
Axis Bank, ICICI Bank, Wipro, Grasim Industries and HDFC Bank were among major gainers on the Nifty, while losers were Sun Pharma, UltraTech Cement, Titan, Shree Cements and Asian Paints.
Sun Pharma and Ultra Cement were among the losers on Sensex.
Among sectoral indices, the Nifty Bank ended with gains of 7.20%. Nifty IT up 2.93%, Nifty Metal up 2.58% and the Nifty PSU Bank index up 3.39% were the other sectoral gainers.
The pharma and media index ended marginally lower.