Top sectoral gainers and losers on NSE
That apart, positive global cues buoyed by US Federal Reserve Chairman Jerome Powell's speech which suggested that the US rate hikes will be gradual, boosted the sentiment further.
The S&P BSE Sensex ended at 36,170, up 453 points (1.27 per cent), while the broader Nifty50 index settled at 10,859, up 130 points (1.21 per cent). The index recorded its sharpest gain (7.4 per cent) in a series since March 2016 F&O expiry.
In key stocks, YES Bank settled flat at Rs 161.05, just 0.65 per cent lower on NSE. During the session, the stock continued to remain under pressure, hitting a fresh 32-month low of Rs 147 apiece. Shares of the private sector lender have tanked 19 per cent in the past three days after Moody’s downgraded the bank’s instruments and changed its outlook from stable to negative on Tuesday. Rating agency Icra, too, on Wednesday downgraded the bank’s rating.
Among key sectors, the Nifty Metal index rose 1.92 per cent led by a rise in Vedanta, Hindalco Industries. The Nifty Bank index, too, jumped 1.82 per cent led by HDFC Bank and IndusInd Bank.
In the broader market, the S&P BSE MidCap index rose 0.62 per cent to end at 14,955, while the S&P BSE SmallCap index ended 0.22 per cent higher at 14,353.
Asian stocks rose on Thursday, tracking gains on Wall Street, after the chairman of the US Federal Reserve suggested it may nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets.
(with Reuters input)