Sensex gains by over 500 points; Bajaj Finance overtakes SBI in market value

Continuing their rising streak, Sensex closed up by 519.11 points or 1.49 per cent at 35,430.43 while Nifty gained by 159.80 points or 1.55 per cent to close at 10,471.

The announcement made by Donald Trump, President of the United States, about placing a temporary ban on issuing new H-1B, H-2B, J and L category visas, visas mainly used by employees of tech companies, is expected to further affect negatively the tech companies. Yet, a reversal of the early morning losses in IT stocks was seen during market close.

During today's trading session, the domestic currency gained by 39 paise and ended at day's high of 75.64 rupees per dollar.

Sensex winners comprised L&T soaring by 6.68 per cent, Bajaj Finance rallying by 6.54 per cent, IndusInd Bank gaining by 6.29 per cent, NTPC rising by 5.83 per cent, Power Grid increasing by 5.06 per cent, Mahindra & Mahindra which went up by 3.52 per cent, Axis Bank up by 3.12 per cent, etc. Sensex laggards included RIL dropping by 1.55 per cent, Bharti Airtel dipping by 0.36 per cent and Maruti Suzuki which fell by 0.20 per cent.

Amongst BSE sectoral gainers, power was the biggest gainer increasing by 4.24 per cent followed by capital goods, utilities and realty up by 4.06 per cent, 3.40 per cent and 3.05 per cent respectively. At a broader level, BSE small-cap index gained by 1.80 per cent and BSE mid-cap index rose by 1.69 per cent.