The benchmark indices ended the trade higher, with the Nifty trading above 15700, boosted by metal and PSU banking stocks. The Sensex was up 358 points at 52,300, while the Nifty was up 102 points, or 0.65percent, at 15737.70.
Except for Nifty FMCG, all of the Nifty sectoral indexes were in the green. The PNB, Bank of Baroda, and Indian Bank all contributed to the Nifty PSU Bank index rising over 2%.
Meanwhile, the broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices up 1% and 1.7 percent, respectively.
Niti Aayog has suggested two banks for the privatisation plan: the Central Bank of India and the Indian Overseas Bank (IOB). As part of its privatisation plan revealed in the Union Budget 2021, the Centre is expected to sell interests in these two state-owned banks.
On the Nifty, significant gainers were Bajaj Finance, Divis Labs, Bajaj Finserv, SBI, and IndusInd Bank, while significant losers included ITC, Bajaj Auto, Eicher Motors, UPL, and Adani Ports. The metal, pharmaceutical, and public sector bank indices all increased by 1-2 percent.