Finance
By: Shree1news, 17 MAY 2021A sharp drop in Covid-19 cases lifted benchmark indices almost 2 per cent higher on Monday. The frontline S&P BSE Sensex zoomed 848 points to settle the day at 49,581 levels, lifted largely by financial counters.
Eight of the top 10 index contributors included names like HDFC Bank, ICICI Bank, HDFC, SBI, Axis Bank, and Kotak Mahindra Bank. Reliance Industries and Infosys had been the remaining two contributors.
On the NSE, the Nifty50 reclaimed the 14,900-mark and ended at 14,923 levels, up 245 points. About 39 of the 50 constituents ended the day in the green today including IndusInd Bank (up 7.5 per cent), SBI, ICICI Bank, HDFC Bank, UPL, Axis Bank, Tata Motors, and Eicher Motors.
On the downside, Cipla, L&T, Bharti Airtel, Nestle India, Sun Pharma, HDFC Life, and Maruti Suzuki were the top laggards, down up to 2.4 per cent.
In the broader market, the S&P BSE MidCap and SmallCap indices ended 1.6 per cent higher each.
On the sectoral front, all but Nifty Pharma index ended the day with positive aspects. The Nifty Bank index added 4 per cent on the NSE today, trailed by the Nifty Financial Services index (up 3 per cent), and the Nifty Metal index (up 2.5 per cent). On the contrary, the Nifty Pharma index slipped 0.14 per cent on profit booking.
Source:A-N
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