Sensex soars 416 points as HDFC Bank rallies over 4% on F&O expiry; GDP data eyed

By: |
May 31, 2018 4:48 PM

The BSE Sensex rebounded by over 416 points today to end at a two-week high of 35,322.38 on a flurry of buying in banking, energy and IT stocks amid a firming trend overseas.

The BSE 30-share Sensex took off on a positive note at 35,083.81 and stayed in the green on widespread buying to hit a high of 35,416.03. (Image: Reuters)

The BSE Sensex rebounded by over 416 points today to end at a two-week high of 35,322.38 on a flurry of buying in banking, energy and IT stocks amid a firming trend overseas. Covering-up of pending short positions on expiry of the May derivatives contracts and optimistic buying by participants ahead of GDP data added to the momentum, brokers said. The BSE 30-share Sensex took off on a positive note at 35,083.81 and stayed in the green on widespread buying to hit a high of 35,416.03. It finally ended at 35,322.38, up 416.27 points, or 1.19 per cent.

This is its biggest single-session gain since April 5, when it had surged 577.73 points. The gauge had lost 259.37 points in the past two sessions. The 50-issue NSE Nifty ended at 10,736.15, up 121.80 points, or 1.15 per cent, after shuttling between 10,763.80 and 10,620.40.

Domestic institutional investors (DIIs) bought shares worth Rs 492.46 crore, while foreign portfolio investors (FPIs) sold to the tune of Rs 1,286.91 crore yesterday, provisional data showed.  Meanwhile, the Met department yesterday said the entire country is likely to get normal monsoon this year, except the east and northeast India, which is likely to witness “below normal” rainfall.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Rakesh Jhunjhunwala cuts stake in Titan, sells Rs 344 crore Titan shares in Jan-Mar 2021
2Bharti Airtel restructures biz with focus on digital opportunities; is value unlocking on cards?
3Infosys share price top Sensex loser today, tumbles over 5% intraday; why Infosys stock is falling