Sensex rises 986 points, Nifty jumps to 9,266; Axis Bank, Eicher Motors gain

Indian benchmark indices ended in the green for the second consecutive day on Friday (April 17) after Reserve Bank of India (RBI) announced significant measures aimed at infusing liquidity in the system.

The BSE Sensex gained 986.11 points or 3.22% to close at 31588.72, while Nifty advanced 273.95 points or 3.05% to end the day at 9266.75. About 1685 shares advanced, 696 shares declined, and 177 shares remained unchanged.

Axis Bank, Eicher Motors, ICICI Bank, Maruti Suzuki and IndusInd Bank were among major gainers on the Nifty, while losers were Nestle, HUL, Bharti Infratel, Sun Pharma and Tech Mahindra.

Among sectors, except pharma and FMCG other indices ended in the green. BSE Midcap and Smallcap indices jumped around 2 percent each.

Banking stocks were the major gainers on Dalal Street in the intraday trade session.  Axis Bank share price jumped 13.45 per cent, ICICI Bank shares shot up 9.89 per cent, shares of IndusInd Bank scaled up 9.13 per cent, Kotak Mahindra Bank stock price gained 4.96 per cent, State Bank of India or SBI stocks added 2.49 per cent, HDFC Bank scrip went up 3.33 per cent while RBL Bank advanced 3.22 per cent.

Earlier on Friday, Prime Minister Narendra Modi hailed the steps taken by the RBI and said it will greatly enhance liquidity and improve credit supply.

"Today’s announcements by @RBIwill greatly enhance liquidity and improve credit supply. These steps would help our small businesses, MSMEs, farmers and the poor. It will also help all states by increasing WMA limits," PM Modi wrote on Twitter, shortly after RBI Governor Shaktikanta Das adressed media today.