India: Sensex Goes up By 995 points As Banking And Finance Stocks Soar

The Indian equity markets surged on Wednesday after a choppy initial trade with the BSE Sensex closing 995 points higher at 31,605.22 on the back of healthy buying in banking and finance stocks.

The Nifty50 rose 285.90 points or 3.17 per cent to close at 9,314.95.

The S&P BSE Banking index rose 7.31 per cent and the Finance index ended 5.64 per cent higher.

The Sensex had opened at 30,793.11 and touched an intra-day high of 31,660.60 and a low of 30,525.68.

The top gainers on the Sensex were Axis Bank, ICICI Bank and HDFC Bank, while the major losers were Sun Pharmaceutical, Ultratech Cement and Titan Company.

Deepak Jasani, Head of Retail Research at HDFC Securities, said: “Markets ended with hefty gains on Wednesday after a shaky opening that saw the Nifty dipping into the negative territory. Buying emerged from the lows of 9,004 to lift the index into the positive territory and close above 9,300.”

Further upsides were likely in the coming sessions, he added.

On Tuesday, the Sensex had closed at 30,609.30.

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Arushi was a Forensic Data Analyst previously employed with EY (Ernst & Young). She then Co Founded the News Platform NYK Daily to develop a global community of knowledge and journalism par excellence. She holds a degree in Computer Science Engineering. She is also a Mentor for women suffering from Mental Health, and helps them in becoming published authors. Helping and educating people always came naturally to Arushi. She is a writer, political researcher, a social worker and a singer with a flair for languages. Travel and nature are the biggest spiritual getaways for her. She believes Yoga and communication can make the world a better place, and is optimistic of a bright yet mysterious future!

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