Market Wrap, Sept 11: Sensex ends 125 pts higher, Nifty at 11,036

YES Bank shares zoomed 15 per cent to Rs 72.55 apiece in early morning trade on the BSE on Wednesday

Mutual funds, Indian stocks, Stock markets

Benchmark indices ended Wednesday's range-bound session higher, lifted by public sector banks and metal stocks, thus extending their gains to three straight days.

The S&P BSE Sensex added 125 points or 0.34 per cent to settle at 37,271.  YES Bank (up 13 per cent), Tata Motors (up 10%), Maruti Suzuki India (up 4%), Tata Steel (up 4%), and Vedanta (up 3 per cent) were the top gainers in the Sensex pack. About 1,845 shares advanced, 777 shares declined, and 153 shares remained unchanged on the BSE. 

On NSE, the Nifty50 index settled at 11,036, up 33 points or 0.3 per cent.

Majority of the Nifty sectoral indices ended higher. Nifty Realty index was up 4 per cent while Nifty PSU Bank and Nifty Auto indexes were up over 3 per cent each. On the other hand, Nifty IT index dipped 1 per cent.

In the broader market, the S&P BSE MidCap index surged 140 points, or 1.04 per cent, to 13,635, while the S&P BSE SmallCap index settled at 12,892, up 182 points, or 1.43 per cent.

Buzzing stock 

YES Bank shares zoomed 15 per cent to Rs 72.55 apiece in early morning trade on the BSE on Wednesday, on reports that the private lender's co-founder Rana Kapoor was in talks with One97 Communications, owner of Paytm, to sell his stake.

Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019. Around 7.34 per cent of the Kapoor family stake has been pledged with Reliance Nippon Asset Management Company (RNAMC).

Shares of Reliance Nippon Life Asset Management slipped up to 4 per cent to Rs 274.5 on the NSE on Wednesday after the company informed the exchanges that it would sell up to 3.15 per cent of equity shares for over Rs 505 crore on stock exchanges through 'Offer for Sale' route on September 11 and 12.