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Sensex jumps by over 400 points, banking stocks surge

ANI 

Equity benchmark indices bucked morning losses and extended gains in the afternoon trade on Wednesday as buying pressure built up on hopes of rosy corporate earning results for the second quarter.

At 1:20 pm, the BSE S & P Sensex was up by 407 points at 37,941 while the Nifty 50 edged higher by 114 points to 11,241. At the National Stock Exchange, most sectoral indices turned green except for FMCG, IT and media.

Among stocks, Bharti Airtel emerged as the top winner with gains of 4.4 per cent to trade at Rs 356.70 per share. IndusInd Bank was up by 4.1 per cent, UltraTech Cement by 3.7 per cent, Mahindra & Mahindra by 3.1 per cent and ICICI Bank by 2.8 per cent.

But Yes Bank was down by 3.8 per cent at Rs 43.90 per share after gaining for two straight sessions. Titan, Zee Entertainment, HCL Technologies and ITC too were in the red.

Meanwhile, Asian markets were sharply lower as US-China trade frictions persisted even as officials from the two countries meet this week to work out a deal.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 09 2019. 13:28 IST
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