Benchmark indices extended gains in the afternoon trade. The Sensex surged more than 500 points and the Nifty reclaimed 10,600 levels. All sectoral sub-indices were trading in the green. Both the indices were gaining more than 1.5%.
At 1:42 PM, the BSE Sensex was trading at 34,620, up 527 points, while the Nifty50 index was trading at 10,626, up 150 points.
The mid-cap and small-cap indices were outperforming their large-cap counterparts as the BSE MidCap Index rose 1.73% and the BSE SmallCap Index gained 2.3%.
FDC stock zoomed 7% after it reported strong October-December quarter earnings and its board approved a proposal to buyback of 34.30 lakh shares at Rs350 apiece.
SRF added 4% as the company had approved a capex for setting up of a BOPET film line in a new entity to be incorporated as a wholly owned subsidiary of the company in Europe at a cost of Euro 58 million to be financed by loan and/or internal accruals.
Volatility index India VIX slipped 6.89% at 18.1225.
Cipla (+6.9%), Indiabulls Finance (+3.8%), Sun Pharma (+3.6%), Dr.Reddy’s (+3.4%) and Tech Mahindra (+2.9%) were the top gainers on Nifty50.
Vedanta (-1.5%), Aurobindo (-0.70%), ONGC (-0.55%), NTPC (-0.51%) and Tata Steel (-0.51%) were the top losers in today’s trade.
Out of 2,017 stocks traded on the NSE, 1,456 advanced, 208 declined and 344 remained unchanged today.
A total of 18 stocks registered a fresh 52-week high in trade today, while eight stocks touched a new 52-week low on the NSE.