Sensex Ends 665 Pts Higher; Nifty Closes Above 10,800 To Record Best One-Day Gains In 2019

Closing: Sensex and Nifty 50 clock best one day gains. At closing, Sensex gained 665.44 points to end at 36256.69, while NSE's Nifty 50 rose 179.20 points to 10831.

Investors are expecting some of reforms to be initiated in tomorrow's interim budget. What is interesting about today's market is that investors have taken shelter in the safe haven stocks like Infosys, TCS, HDFC Bank and Reliance, which has actually driven the indices higher, since these are heavyweight stocks.

Today is the last day of trading for the F&O series. Markets are still looking strong with any signs of giving up gains. The Sensex is still up 542 points, while the Nifty has gained 150 points.

Shares in shrimp and shrimp feed producers have risen sharply. Apex Frozen shares have surged 14 per cent at Rs 339, while Avanti Feed is up 9 per cent at Rs 346.

DHFL stock continues to slump and is down a mammoth 15 per cent. The stock was last trading at Rs 137 on the NSE. Sentiments in general for NBFCs and HFCs are looking weak. L&T Finance Holdings, Indiabulls Housing Finance etc., were lower in trade.

Axis Bank and Wipro from the Nifty have both touched their 52-week highs. Meanwhile, the rupee is trading absolutely flat at 71.09 to the dollar, as against its previous close of 71.12. All eyes would be on the Interim Budget to be delivered at 11 am tomorrow.

The Sensex is now up 550 points and large part of the gains can be attributed to Infosys and Reliance Industries. Both the stocks are up almost 3 per cent in trade. Another heavyweight, TCS has also contributed substantially to gains.

The Sensex has now surged more than 400 points in trade and is way above the 36,000 points mark. The Sensex was up 447 points, while the Nifty was up 116 points led by heavyweights. TCS Infosys and Reliance Industries were the major contributors to gains in the index.

ICICI Bank has now lost almost 3 per cent in trade, after gaining a hefty 3 per cent in the morning. Investors who had bought on Wednesday may have sold into the stock. Several brokerages have a buy on the stock, following its results declared on Wednesday. The shares were last trading at Rs 357.

Indiabulls Housing Finance shares fell 2 per cent, after the company reported numbers that disappointed the street. However, the company has declared a dividend of Rs 10 per share or 500 per cent on a face value of Rs 2. The dividend yield on the shares itself is close to 6 per cent. The shares were last trading at Rs 665.

Media stocks dive: Media stocks have fallen and the media index is down by almost 3 per cent. Zee Group stocks are the worst hit, with Zee Entertainment down a huge 4.5 per cent. Other media stocks like DB Corp were also trading lower.

The Sensex has surged 400 points now and it is largely to do with some of the heavyweight stocks. Infosys is up 3 per cent, while Reliance Industries is up 2 per cent and TCS too is up 2 per cent. All these stocks are heavyweights. The Sensex has now crossed the 36,000 points mark.

Shares of Dewan Housing have plunged 14 per cent in trade, after reports that the Ministry of Corporate Affairs will probe allegations against the company. It maybe recalled that Cobrapost had made allegations against the company for siphoning off money, which the company has denied and sought legal action against Cobrapost. The shares were last trading at Rs 140, down 13 per cent in trade.

The Sensex has surged 300 points, as sustained buying in IT stocks like Infosys and TCS have pushed indices higher. Reliance Industries with gains of near 2 per cent is also pushing the indices higher.

ICICI Bank, Tata Steel, Reliance Industries, Axis Bank and Tata Motors were some of the gainers from the Nifty trade. Among the stock that lost ground were Adani, Bajaj Auto and Hero Motor Corp.

Shares of Bharti Airtel jumped 1 per cent, ahead of its fund raising plans. The stock has declined significantly this year. All eyes would also be on the quarterly numbers to be declared later.

Shares in IndiaBulls housing was down 1 per cent ahead of results to be declared later today. The board is likely to consider an interim dividend as well. The shares were last trading at Rs 667, over Wednesday's price of Rs 673

ICICI Bank was in the limelight after Chanda Kocchar was sacked. ICICI Bank shares also reacted to its results, following net profits that were lower than estimates. However, NPAs at the bank declined, which were a big relief to the markets. The shares were up 2 per cent in trade.