Domestic stock markets, rose about 1 per cent to settle today’s trading session on a positive note.
Bombay Stock Exchange (BSE) benchmark index Sensex ended at 35,354.08, up 373.06 points or 1.07 per cent from the previous close, and the Nifty50 index of the National Stock Exchange (NSE) rose 101.85 points or 0.97 per cent to close at 10,628.60.
The indices were boosted by a surge in FMCG, IT and bank stocks. Top gainers on the 50-scrip index Nifty were Hero MotoCorp (+6.11 per cent), Wipro (+4.04 per cent), Hindustan Unilever (+3.87 per cent), Axis Bank (+2.90 per cent) and Asian Paints (+2.67 per cent).
Twenty one out of 30 Sensex stocks closed in the green. Prominent gainers in the 30-share Sensex pack were Hero MotoCorp (+5.02 per cent), Hindustan Unilever (+4.21 per cent), Wipro (+3.76 per cent), Asian Paints (+2.72 per cent), Axis Bank (+2.69 per cent) and Induslnd Bank (+2.30 per cent).
HDFC Bank, Hindustan Unilever and ITC contributed most to the gains.
“Today’s rally was driven by fall in crude prices. However, it was a narrow rally with the Sensex and Nifty being up by almost a percentage but midcaps being up only slightly and the small cap index was actually down for the day”, Viral Berawala, CIO, Essel Mutual Fund told .
The aviation sector witnessed some cheer after oil prices fell, with shares of InterGlobe Aviation Ltd closing at 2.37 per cent higher on the BSE. While shares of SpiceJet settled 1.22 per cent higher on the BSE.
Oil prices today steadied after plunging nearly 8 per cent in the previous session, but were under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets.
Meanwhile, gross domestic product data for the September quarter and expiry of futures and options contract are scheduled to be released later this week.>