Sensex rallies 453 points to close above 39,000, Nifty tops 11,550-mark; Yes Bank biggest gainer soaring over 15%

Extending its gains for the fifth consecutive session, BSE Sensex rallied 453 points on Thursday

FP Staff October 17, 2019 16:42:04 IST
Sensex rallies 453 points to close above 39,000, Nifty tops 11,550-mark; Yes Bank biggest gainer soaring over 15%
  • BSE Sensex rallied 453 points on Thursday as global investors cheered a Brexit deal reached between Britain and the European Union

  • Shares ended higher on Thursday, led by gains in auto and state-owned bank stocks, as investors cheered Britain and the European Union agreeing on a new divorce deal

  • Upbeat domestic corporate earnings for the September quarter so far further boosted the sentiment

Extending its gains for the fifth consecutive session, BSE Sensex rallied 453 points on Thursday as global investors cheered a Brexit deal reached between Britain and the EU.

Shares ended higher on Thursday, led by gains in auto and state-owned bank stocks, as investors cheered Britain and the European Union agreeing on a new divorce deal.

Upbeat domestic corporate earnings for the September quarter so far further boosted the sentiment.

Domestic traders were also enthused after Finance Minister Nirmala Sitharaman hinted at more stimulus measures as she urged international investors to pump funds into India.

After trading on a positive note through the day, the 30-share Sensex surged at the fag end of the session to end 453.07 points or 1.17 percent, higher at 39,052.06. It hit an intra-day high of 39,104.69 and a low of 38,557.43.

The broader NSE Nifty too spiked 122.35 points, or 1.07 percent, to settle at 11,586.35.

Sensex rallies 453 points to close above 39000 Nifty tops 11550mark Yes Bank biggest gainer soaring over 15

Representational image. Reuters.

Yes Bank was the biggest gainer in the Sensex pack, soaring up to 15.19 percent, followed Tata Motors, IndusInd Bank, SBI, Bajaj Auto, Asian Paints, Axis Bank, Tata Steel and Maruti, rising up to 9.82 percent.

On the other hand, HCL Tech, Vedanta, PowerGrid, Kotak Bank, Infosys, ONGC, Tech Mahindra, L&T and HDFC Bank fell up to 1.04 percent.

According to traders, domestic market followed European equities that rallied after Britain and the European Union said they have struck an outline Brexit deal after prolonged negotiations.

The deal, however, must still be formally approved by the bloc and ratified by the European and UK parliaments.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended on a mixed note.

Further, Chinese government's appeal to Washington to negotiate a quick end to their tariff war also buoyed market sentiment.

Meanwhile, the Indian rupee appreciated 24 paise to 71.19 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, fell 0.24 percent to $59.28 per barrel.

--With inputs from agencies

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