Nifty Ends 98 points Higher, IndusInd Bank Rallies 15%

Benchmark indices ended the day sharply higher, led by strong cues from across the globe. European markets were up more than 1.5 per cent, while Dow Futures pointed to gains of at least 1 per cent.

The Sensex ended the day higher by 371 points, while the Nifty gained 98 points in trade.

IndusInd Bank saw its shares surge almost 15 per cent, despite lower than estimated results.

The bank saw its net profits falling 16% to Rs. 301.84 crore as against Rs. 360.10 crore in the previous ended quarter.

Shares in Reliance Industries ended the day flat after reports that the company may consider a rights issue on April 30 when it board meets. The company is also expected to declare its quarterly results on the same day.

Among the other gainers from the Nifty apart from IndusInd Bank were Bajaj Finance and HDFC.

Shares in Axis Bank ended the day up a whopping 6 per cent. The bank is expected to announce its results later today.

Losers from among the Nifty were Sun Pharma, HCL Tech and IOC.

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