Sensex extends to end 460 points up, Nifty above 10,400-mark

Oct 10, 2018, 18:12 IST | IANS

Besides, healthy buying in banking, capital goods and automobile stocks coupled with hopes on revival of the NBFC sector enhanced investors' risk-taking appetite

Sensex extends to end 460 points up, Nifty above 10,400-mark
Representational Image

Expectations of a healthy second quarterly earnings result season and attractive valuations lifted the domestic equity indices on Wednesday.

Besides, healthy buying in banking, capital goods and automobile stocks coupled with hopes on revival of the NBFC sector enhanced investors' risk-taking appetite.

According to analysts, key Indian equity indices which opened on a positive note, maintained the gains aide by a slight drop in crude oil prices.

"I would view this as a relief rally, as the fall of the stock market in the recent past was led by NBFCs. This is the pull back which was long due. It comes after the SBI on Tuesday said that they will buy assets from NBFCs," Rusmik Oza, Head of Fundamental Research, Kotak Securities, told IANS.

"Having said that, there is still uncertainty, we are definitely not out of the woods as other public sector banks are low on cash."

At 3.30 p.m., the NSE Nifty50 provisionally closed at 10,460.10, up 159.05 points or 1.54 per cent.

The benchmark S&P BSE Sensex, which had opened at 34,493.21 points, settled at 34,760.89 points, up 461.42 points or 1.35 per cent from the previous close.

The Sensex touched an intra-day high of 34,858.35 points and a low of 34,346.50.

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get the latest updates

This story has been sourced from a third party syndicated feed, agencies. Except for the change in the headline, the story has been provided "AS-IS," "AS AVAILABLE, without any verification or editing from our side. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Mumbai Crime: Man kills model after sex, stuffs body in suitcase

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK