Money on the markets
A maturing market amid the mayhem
Index heavyweight and top private lender ICICI Bank gained over 7 percent to close at 574 rupees. Its shares have gained 28 percent this year.
Stalwarts Reliance Industries and Bharti Airtel too made impressive gains, adding 2 percent and 4.6 percent respectively.
Among sectors, the Bankex led the pack with gains of 3.8 percent. Other than ICICI, Oriental Bank of Commerce also registered smart gains of over 7 percent.
The benchmark was dragged lower by heavyweights Bharti Airtel, Reliance Industries and ICICI Bank.
An over 1 percent loss in Reliance Industries and a 3.4 percent loss in ONGC led the benchmark lower to close at 12,020 points.
After a relatively quiet start in the morning, the benchmark stock index rallied and closed 475 points higher even as factory output data disappointed.
There was speculation that the BJP-led alliance, perceived as market friendly, was gaining momentum in the elections.
The outcome of the elections this weekend weighed on investors’ minds as the benchmark slipped nearly 200 points to close at 11,683.
Some index heavyweights took a beating – Reliance Industries slipped 1.98 percent, SBI ended 4.8 pct lower and L&T dropped 2.8 percent.
The benchmark closed down 240.51 points at 11,876.43, while the Nifty ended 1.7 percent down at 3,620.70.
The BSE Sensex closed 1.37 percent higher on Thursday, tracking a rally in global markets on ebbing concerns about the health of the financial sector and the global economy.
Trade was volatile and the benchmark closed 164.19 points higher at 12,116.94, while the Nifty ended 1.62 percent higher at 3,683.90.
The BSE Sensex closed 1.4 percent lower on Wednesday as investors booked profits ahead of the fourth phase of India’s general elections on Thursday.
The benchmark closed 3.6 points down at 12,131.08, while the Nifty ended 0.2 percent higher at 3,661.90.
The BSE Sensex closed 6.4 percent higher on Monday, its biggest one-day gain in six months, boosted by encouraging manufacturing data at home and renewed investor activity across Asia.
The benchmark closed 731.5 points higher at 12,134.75, while the Nifty ended 5.1 percent higher at 3654.
The rise in the Sensex was led by Reliance Industries, Infosys and ICICI Bank.
On the sectoral front, the BSE Metal Index gained nearly 8.7 percent. This was followed by the IT Index which ended up 8.4 percent. All sectoral indices closed the day in the green.