Indian benchmark indices, Sensex and Nifty, ended higher on Wednesday on the back of strong buying across banking stocks, propelled by Centre's move to lift the embargo on granting government business to private lenders. While Sensex surged 1,030 points to settle at 50,781, Nifty gained 274.20 points to close at 14,982. Banking stocks were among top gainers on BSE Sensex pack after Finance Minister Nirmala Sitharaman announced that the government has lifted the embargo on grant of government businesses to private banks.
Among the index heavyweights, Coal India, Axis Bank, ICICI Bank, HDFC Bank, Bajaj Finance, State Bank of India (SBI), Larsen and Toubro (L&T), UltraTech Cement, Reliance, ONGC, M&M, Bharti Airtel and Infosys were among top gainers, rising up to 5 per cent.
Here's a look at top five gainers on BSE and NSE today
The private sector lender was the top gainer, ending 5.04 per cent higher at Rs 1,606.25 against previous closing price of 1,529.15 on the BSE. During the day's trade, the stock hit intra-day high and low of Rs 1,650 and 1,517, respectively. The market cap of the stock surged to Rs 8.84 lakh crore as of Wednesday.
After HDFC Bank, Axis Bank was the second biggest gainer on the BSE Sensex space. The private sector lender ended 4.6 per cent higher at Rs 748.75 after making a positive opening at Rs 720 against previous closing price of Rs 715.85. The stock hit an intra-day high and low of Rs 754.40 and 700.15, respectively. On the volume front, there was surge in buying as 23.83 lakh shares changed hands over the counter as compared to two-week average volume of 7.22 lakh shares.
ICICI Bank, the country's leading private sector lender, was third biggest gainer on the BSE Sensex. The stock gained as much as 4.5 per cent in intra-day trade to hit day's high of Rs 646.60, before settling at Rs 641.40, up 4.10 per cent on the BSE. The m-cap of ICICI Bank surged to Rs 4.43 lakh crore as on February 24.
Shares of Bajaj Finance, a part of Bajaj Group, gained as much as 10 per cent in intra-day trade to hit 52-week high of Rs 5,921.75 on the back of strong volume. The stock opened day's trade at Rs 5,430 against previous closing price of Rs 5,383.45. The Bajaj Finance share price settled Wednesday's trade at Rs 5,553, up 3.15 per cent.
Shares of HDFC, one of India's leading housing finance companies, ended Wednesday's trade at Rs 2,706.20, up 3.06 per cent on the BSE. The stock opened day's trade at Rs 2,615.05 against previous closing price of Rs 2,625.90. During the day's trade, the stock hit an intraday high and low of Rs 2,723 and Rs 2,611, respectively. The market cap of mortgage lender surged to Rs 4.87 lakh crore.