Sensex Rallies 1,276 Points In Trade, US Bond Yields Drop

Indian stock markets surged in trade today, as the US bond yields drop sharply. The US 2-Year bond yield dropped to 4.012%, while the US 10-Year bond yield fell sharply to 3.572%. Amid positive global cues in the equity markets, Sensex closed 1,276.66 points higher, and Nifty closed 386.95 points higher today. Bank Nifty surged 2.84%, led by strong buying in IndusInd Bank. The nifty private bank gained by 3.16%, and the Nifty PSU Bank gained by 2.97% today.

Major banking stocks like IndusInd Bank, PNB, South Bank, Bank of Baroda, and IDFC were the most active equities today. Additionally, IndusInd Bank, Adani Ports, Bajaj Finance, Coal India, TCS, UPL, and Hero Motocorp were some of the top gainers, while Power Grid and Dr. Reddy were some of the top losers in trade today.

Fresh 52-week high and 52-week low stocks

The top stocks to reach 52-week high level on NSE in intra day trading are IDFC First Bank Limited, Metro Brands Limited, Apar Industries Limited, BSL Limited, Cipla Limited, Gujarat Fluorochemicals Limited, Lemon Tree Hotels Limited, Solar Industries India Limited, Blue Dart Express Limited and Bharti Airtel Limited. On the other hand, Akshar Spintex Limited, Cerebra Integrated Technologies Limited, Dreamfolks Services Limited, and Tamilnad Mercantile Bank Limited hit fresh 52-week low today.

Significantly, the share price of Zydus Lifesciences Ltd. gained by 2.38% in trade today, after it got approved by the US Food and Drug Administration (USFDA). Now the pharma company can market Amantadine extended-release capsules, which is expected to boost its business further.

Meanwhile, in the Asian stock markets, Nikkei stood at 26,992.21 points up by 2.96%, and Kospi stood at 2,209.38 points up by 2.50%, on strong global cues. In the US, S&P 500 surged by 2.59%, and Dow Jones Industrial Average surged by 2.66% in trade, at the time of writing. US Dollar index on the other hand cooled down to 111.11.