Sensex up 530 points over value buying; banking stocks soar over 2.50%, ICICI Bank, SBI, Axis Bank top gainers

Mumbai: Despite negative global cues and lingering macroeconomic woes, the key domestic indices -- the S&P BSE Sensex and NSE Nifty50 -- gained over 1.50 percent on the back of value buying by investors during the afternoon session on Monday.

All the 19 sectors on the BSE gained, with banking and finance counters leading. Healthy gains were witnessed in export-oriented stocks like healthcare and IT counters.

At 1.40 pm, the Sensex traded 534.75 points up at 33,884.06 points. It opened at 33,549.88 points from its previous close of 33,349.31 points.

Representational image. AFP

Representational image. AFP

It touched an intra-day high of 33,911.38 points and a low of 33,341.80 points.

The NSE Nifty50 traded at 10,184.45 points during the afternoon trade session, up 154.45 points and 1.54 percent.

The domestic currency was trading around Rs 73.42 a dollar from its Friday's close of 73.46. The benchmark brent crude traded around $77.09 a barrel.

The banking stocks made healthy gains of over 2.50 percent. The top gainers included ICICI Bank, State Bank of India and Axis Bank.

ICICI Bank gained close to 9 percent to Rs 343.05 a share even as the private lender on Friday reported a 55.84 percent year-on-year decline in its standalone net profit for the quarter ended in September.

While State Bank of India gained over 7 percent at Rs 266.30 apiece, Axis Bank was up over 5 per cent at Rs 568.50 a share.

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Updated Date: Oct 29, 2018 15:01 PM

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