Sensex surges over 300 pts, Nifty ends 9 pts short of 10,500; HDFC Bank, RIL, Tata Steel, Sun Pharma rally

By: | Published: February 23, 2018 4:32 PM

India's stock market closed on a positive note on Friday with Sensex surging over 300 points and Nifty closing just 9 points short of 10,500-mark led by a value-buying in shares of HDFC Bank, RIL, Tata Steel, Sun Pharma, ICICI Bank, ITC and SBI.

The S&P BSE Sensex amassed 348.1 points to hit a day’s high of 34,167.6 on Friday. (Image: BSE)

India’s stock market closed on a positive note on Friday with Sensex surging over 300 points and Nifty ending just 9 points short of 10,500-mark led by a value-buying in shares of HDFC Bank, RIL, Tata Steel, Sun Pharma, ICICI Bank, ITC, SBI, L&T, TCS, Axis Bank, Yes Bank, HDFC, Kotak Mahindra Bank, Airtel and ONGC. The S&P BSE Sensex amassed 348.1 points to hit a day’s high of 34,167.6 before settling up 322.65 points at 34,142.15 and broader Nifty 50 advanced 116.4 points to hit day’s high of 10,499.1 before ending 108.35 points higher at 10,491.05. Indian equities inched higher on Friday after the five-day long subdued activity under subsumed volatility as volatility indicator — India Vix — declined 4.24% to finish at 14.2025.

Shares of Tata Steel and Sun Pharma emerged as the top gainers among the Sensex constituents rising over 5-7%. The stock of Tata Steel spiked 7.29% to a day’s high of Rs 684.35 before closing up 6.26% at Rs 677.8 on BSE. A massive trading volume was witnessed in the shares of Tata Steel, as at 1:50 pm, more than 1.6 crore shares exchanged hands on both NSE and BSE with about 1.46 crore shares on NSE alone. The stock of Sun Pharma zoomed 6.05% to a day’s high of Rs 575 before ending up 5.17% at Rs 570.2. Other blue-chip stocks which also surged in today’s session include Yes Bank, Bharti Airtel, Dr Reddy’s, ONGC, NTPC, Power Grid, TCS, HDFC Bank, Reliance Industries, IndusInd Bank, Axis Bank, Tata Motors, ICICI Bank, and State Bank of India.

The heavyweight shares of companies such as HDFC Bank, RIL, Tata Steel, Sun Pharma, ICICI Bank, ITC, SBI, L&T, TCS, Axis Bank, Yes Bank, HDFC, Kotak Mahindra Bank, Airtel and ONGC contributed heavily to the Sensex upsurge. Jointly these 14 stocks alone added about 281 points out of the 322-point gains. Shares of scam-hit PNB ended down 1.09% to Rs 113.4 after diving 2% to Rs 112.35 on the news of

A market-wide buying was seen in the Indian stock markets today as all the sectoral and broader market indices ended in green with Nifty Midcap 50, Nifty Metal and Nifty Pharma rising 2-4% while Nifty 100, Nifty 200, Nifty 500, Nifty Mid100 Free, Nifty Small100 Free, Nifty Bank, Nifty Financial Services, Nifty IT, Nifty PSU Bank, Nifty Private Bank also advanced up to 2%. Among the ‘A’ group shares of BSE, stocks of JP Associates, Fortis Healthcare, Mindtree, Kaveri Seed Company and Radico Khaitan gained 7-18% while the shares of Jubilant Lifesciences, Vakrangee, Siemens and IIFL plunged 2-11% today.

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