Sensex rallies 432 points on F&O expiry; financial stocks shine - Hindustan Times
close_game
close_game

Sensex rallies 432 points on F&O expiry; financial stocks shine

Mumbai | ByPress Trust of India | Posted by Prashasti Singh
Nov 26, 2020 04:13 PM IST

After a volatile session, the 30-share BSE index ended 431.64 points or 0.98 per cent higher at 44,259.74.

Equity benchmark Sensex rallied 432 points on Thursday, tracking gains in banking and financial stocks as the November series derivatives expired amid largely positive cues from global markets.

Sensex rallies 431 points to settle at 44,259; Nifty surges 128 points to 12,987(PTI)
Sensex rallies 431 points to settle at 44,259; Nifty surges 128 points to 12,987(PTI)

After a volatile session, the 30-share BSE index ended 431.64 points or 0.98 per cent higher at 44,259.74.

Hindustan Times - your fastest source for breaking news! Read now.

Similarly, the broader NSE Nifty surged 128.60 points or 1 per cent to 12,987.

Tata Steel was the top gainer in the Sensex pack, rising around 5 per cent, followed by Bajaj Finance, Bajaj Auto, HDFC, HCL Tech and Titan.

On the other hand, Maruti, ONGC, IndusInd Bank and Tech Mahindra were among the laggards.

Domestic equities witnessed sharp recovery led by sharp rebound in banking, financial services and insurance (BFSI) stocks and metals.

BFSIs continued to be a key driving force for the market, said Binod Modi, Head- Strategy at Reliance Securities.

“Improved prospects of earnings recovery in the backdrop of improvement in collection efficiencies, better outlook for credit costs and possibility of reversal of provisions due to resolution of select large accounts along with better valuations attracted investors in BFSIs,” he noted.

Heavy buying sentiment was also seen as November derivative contracts expired, traders said.

Elsewhere in Asia, bourses in Shanghai, Tokyo, Hong Kong and Seoul ended with significant gains.

Stock exchanges in Europe, however, began of a tepid note.

Meanwhile, Brent crude futures, the global oil benchmark, was trading 1.32 per cent higher at USD 47.89 per barrel.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On