The Indian stock market shrugged off the Moody’s Investors Service downgraded India’s credit rating to a notch above junk helped by Kotak Mahindra Bank and hotel stocks.
Sensex is up 468.40 points or 1.41 percent at 33771.92, and the Nifty jumped 131.95 points or 1.34 percent at 9958.10.
Among the sectors, Bank Nifty added 2 percent while IT and pharma stocks added a percent each.
The most active securities on NSE in terms of volumes included Vodafone Idea which jumped 12 percent with 61,17,30,728 shares being traded. This was followed by Tata Motors which added 5 percent and State Bank of India where 5,35,79,965 and 4,74,90,879 shares traded respectively at 13:25 hours. It was trading with volumes of 2,856,720 shares, compared to its five day average of 2,363,734 shares, an increase of 20.86 percent.
The other active stocks included Tata Power, Trident, Ashok Leyland, NCC, Motherson Sumi Systems and Bank of Baroda.
Share price if Trident hit upper circuit on NSE after the company has been granted patent for ‘Woven Fabric With Improved Comfort’ by United States Patent Office. The grant of this patent provides further recognition of the quality of the innovation being carried out by Trident.
V.S.T Tillers Tractors share jumped 20 percent while Bodal Chemicals Limited and Tainwala Chemical were the other active stocks.
The top gainers included Kotak Mahindra Bank which was up almost 6 percent followed by Bajaj Finance, Power Grid, IndusInd Bank and HDFC among others.
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