Sensex zooms up by 550 points

On the last trading day of October, the Indian equities market's breadth closed in favour of advances with an advance-decline ratio at 2:1. The BSE Sensex closed at 34,442.05, up by 550.92 points or 1.63 per cent, while the broader benchmark index Nifty50 closed at 10,386 level, up by 1.85 per cent.


The markets opened higher with Sensex rising almost a 100 points followed by strong global cues, but lost most of this gains in the morning session. However, the benchmark index gained pace in the afternoon session to close in comfortably in the green. The BSE Sensex opened at 33963.09 points, and hit a high of 34,463.38 and a low of 33,587.24 during the day. 

HDFC emerged as the top gaining stock on Sensex. HDFC was up by 5.78 per cent, followed by IndusInd Bank and Infosys which were up by 4 per cent, while Axis Bank, Yes Bank and Sun Pharma were up more than 3 per cent. The biggest loser was Coal India closing at below 3.53 per cent, followed by Tata Steel down by 2.25 per cent and Maruti down by 1.33 per cent on Wednesday. 

Amongst the sectoral indices, on NSE, Nifty IT and PSU Bank were the top gainers closing up by 4 per cent and 2.42 per cent, respectively. All the sectors, except Metal, closed in green. Zentech was the biggest gainer on the IT index, gaining close to 10 per cent while on PSU Bank index, UCO Bank topped the list and closed up by 7.30 per cent. The Nifty Bank was at 25,153.25, up by 345.50 points or 1.39 per cent, and ICICI Bank provides major support to this gain.