Indian equities rally for 2nd day; Sensex surges 462 points

Mumbai: The Indian stock markets key indices rallied for the second consecutive day on Friday with benchmark Sensex surging by 462 points led by good buying support in banking, financial and infra stocks.

The 30 stock S&P BSE Sensex surged 462.26 points or 0.88 per cent to 52,727.98 points against its previous session’s close at 52,265.72 points. Earlier, the Sensex started the day sharply higher at 52,654.24 points and soared to a high of 52,909.87 points in the morning trade. However, the Sensex pared some gains later in the day falling to a low of 52,447.25 points in the intra-day.

This is the second consecutive day of gains in the benchmark Sensex. The index had gained 443.19 points or 0.86 per cent on Thursday.

The broader Nifty 50 of the National Stock Exchange jumped 142.60 points or 0.92 per cent to 15,699.25 points against its previous day’s close at 15,556.65 points.

The Nifty had gained 143.35 points or 0.93 per cent on Thursday.

Mahindra & Mahindra surged 4.28 per cent to Rs 1072.05. Hindustan Unilever jumped 2.22 per cent to Rs 2301.70.

There was good buying support in banking and financial stocks. IndusInd Bank climbed 2.59 per cent to Rs 807. Bajaj Finance soared 2.58 per cent to Rs 5588. ICICI Bank surged 2.02 per cent to Rs 713.65. HDFC Bank jumped 1.27 per cent to Rs 1353.90. State Bank of India rose 0.66 per cent to Rs 454.35.

The index heavyweight Reliance Industries Limited surged 1.47 per cent to Rs 2500.75.

Only six of the 30 scrips that are part of the Sensex closed in the red.

There was selling pressure in IT stocks. Tech Mahindra slumped 1.03 per cent to Rs 980.95. Infosys slipped 0.77 per cent to Rs 1442.05. HCL Technologies fell 0.50 per cent to Rs 966.55. Tata Consultancy Services closed 0.49 per cent down at Rs 3292.95. Wipro closed 0.16 per cent down at Rs 418.70.