Sensex Ends Above 28,000 Points; PSU Banks Soar

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Benchmark indices ended the day higher as global cues remained robust ahead of key central bank meetings to be held later this week.

The Sensex ended the day higher by 292 points, as European cues remained solid, with all the major indices in the region ending above the 1 per cent mark. The Nifty ended the day higher by 94 points.

Sensex Ends Above 28,000 Points; PSU Banks Soar
Leading the set of gainers were the PSU banking stocks, which jumped in trade. Allahabad Bank was the biggest gainers and ended the day higher by 6 per cent, while other notable gainers in trade were Oriental Bank, Andhra Bank and Syndicate Bank.

Shares in Rallis India gained ground after the company reported a good set of quarterly numbers. The stock ended the day higher by 4 per cent in trade.

Axis Bank which reported numbers that lagged estimates managed to end the day higher, after falling more than 2 per cent in the initial stages of trade.

Havells India, which reported a good set of numbers for the quarter ending June 30, 2016, ended the day higher.

IL&FS Engineering was up more than 8 per cent, after the company secured an order for Rs 532 crore order for Nagpur Metro Rail Project.

Ponni Sugar has received consent from Tamil Nadu Pollution Control Board to operate cogeneration power plant with expanded capacity of 19MW. The stock ended the day higher by 10 per cent.

Meanwhile, the rupee was trading flat at 67.18 to the US dollar.

Read more about: sensex, nifty
Story first published: Monday, July 25, 2016, 15:26 [IST]
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