STOCK MARKET BSE NSE

Sensex zooms 1,030 points, Nifty tops 14,950 in extended session

After resumption of trade at 3.45 pm, NSE Nifty zoomed 274.20 points or 1.86 per cent to end at 14,982.

Published: 24th February 2021 07:56 PM  |   Last Updated: 24th February 2021 07:56 PM   |  A+A-

Nifty, Sensex, BSE, NSE

Image used for representational purposes. (Photo | PTI)

By PTI

MUMBAI: Equity benchmark Sensex soared 1,030.28 points and the Nifty rallied over 270 points on Wednesday, tracking strong buying in financial stocks, after trading hours were extended following a technical glitch at NSE.

After resumption of trade at 3.45 pm, NSE Nifty zoomed 274.20 points or 1.86 per cent to end at 14,982.

Similarly, the 30-share BSE index settled 1,030.28 points or 2.07 per cent higher at 50,781.69.

Axis Bank was the top gainer in the Sensex pack, surging around 5 per cent, followed by HDFC twins, ICICI Bank, Bajaj Finance and SBI.

On the other hand, PowerGrid, Dr Reddy's, TCS and Asian Paints were among the laggards.

Minutes before the scheduled closure of trade at 3.30 pm, leading bourses BSE and NSE said their equity and derivatives markets will remain open till 5 pm.

The move came after the National Stock Exchange (NSE) suffered an outage earlier in the day due to technical glitches.

Trading across segments came to a halt at 1140 hrs due to connectivity issues.

However, the broader Indian markets were not impacted as communication lines at BSE remained operational.

"Technical glitch did not impact domestic market sentiment though volatility was high with a positive prejudice, in the first session.

During the extra session, the market gathered more strength and hugely outperforming the global peers, triggered by squaring-off F&O positions a day ahead of the prefixed monthly expiry date.

"The global market was mixed, not very convinced that world central banks like Fed will maintain a flexible monetary policy even during rising bond yield and inflation. And the Asian market was negatively impacted by a hike in stamp duty on equities," said Vinod Nair, Head of Research at Geojit Financial Services.

BSE bankex, finance, telecom, capital goods and energy indices rallied up to 3.86 per cent, while power and utilities ended in the red.

Broader BSE midcap and smallcap indices surged up to 1.08 per cent.

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

Stock exchanges in Europe, however, were trading with gains in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.96 per cent higher at USD 65.10 per barrel.

In the forex market, the rupee gained 11 paise to settle at 72.35 against the US dollar supported by positive domestic equities and weakness of the American currency in the overseas market.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp