Sensex gains 645 points, Nifty advances 186 points; Vodafone Idea, Ashok Leyland, ICICI Bank lead bull run
The BSE Sensex jumped 645 points to close at 38,177, while 50-stock Nifty index gained 186 points to end the day at 11,313.
The Indian indices ended their losing streak on Wednesday after plunging for six straight trade sessions. The BSE Sensex jumped 645 points to close at 38,177, while 50-stock Nifty index gained 186 points to end the day at 11,313. The Bank Nifty index skyrocketed 1018 points and closed at 28,785 levels.
The major gaining stocks in the intraday trade were Vodafone Idea, Delta Corp, Ashok Leyland, Shriram Transport Finance, Bharti Airtel, Tata Power, ICICI Bank and Adani Gas stocks, while Dewan Housing Finance Limited or DHFL, Reliance Capital, Yes Bank, Lakshmi Vilas Bank, Hero MotoCorp, Titan Company and Suzlon Energy stocks were the major losing shares in the intraday trade.
Telecom stocks led the bull run as the BSE Telecom index jumped 4.92 per cent. Telecom major Vodafone Idea share price gained over 14 per cent, shares of Bharti Infratel surged 5.55 per cent, Bharti Airtel shares surged 5.2 per cent, GTPL Hathway stock price rose to near 7 per cent while Reliance Communications or RCom advanced over 4 per cent.
Banking stocks also witnessed fresh buying as the BSE Bankex went up 3.67 per cent. Banking major IndusInd Bank share price jumped 5.45 per cent, shares of ICICI Bank advanced 4.88 per cent, State Bank of India or SBI shares went northward 4.78 per cent, HDFC Bank stock price rose 3.44 per cent while Axis Bank counter went up near 2 per cent.