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

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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 Sana is the Founder of Santerra Living and Co-Founder of NYK Daily. She was awarded the Times Power Women of the Year 2022 and Times Digital Entrepreneur of the Year 2023. Arushi is also a Sustainability Consultant for organisations looking to reduce their carbon footprint and also works with brands on social media to help them carve a presence in that niche. She holds a Degree in Computer Science Engineering from VIT University and a Diploma in Marketing Analytics from IIM Nagpur. Her interest in Sustainable Living and Interior Design led her to start a Sustainable e-Marketplace where customers can buy eco-furniture and eco-friendly products for everyday use. Arushi is a writer, political researcher, a social worker, a farmer and a singer with an interest in languages. Travel and nature are the biggest spiritual getaways for her, and she aims to develop a global community of knowledge and journalism par excellence through this News Platform.

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