India’s stock benchmarks advanced, aided by gains in Reliance Industries Ltd., HDFC Ltd., HDFC Bank Ltd. and auto stocks. This is the second consecutive session in which the Sensex and Nifty added over 1%. This is also the best day for the measures in over two weeks.
The S&P BSE Sensex rose over 1.5% to 57,911.68. The 30-stock gauge added over 950 points to an intraday high of 57,991.53. The NSE Nifty 50 advanced by similar magnitude to 17,392.60.
The move was the biggest since rising 2.2% on April 4.Eicher Motors Ltd. had the largest increase, rising 4.5%. Today, 42 of 50 shares rose, while 8 fell.
The broader indices underperformed their larger peers, with both S&P BSE MidCap and S&P BSE SmallCap rising 1.3%. Barring S&P BSE Metal, all the other 18 sectoral indices compiled by BSE Ltd. advanced, with S&P BSE Auto index gaining over 2%.
The market breadth was skewed in the favour of bulls. About 2,309 stocks advanced, 1,109 declined and 103 remained unchanged.