Markets continued their bull run as sentiments remained buoyant amid forthcoming quarterly results and rising global markets. Sensex gained 178 points and closed at 35,260.29 whereas Nifty gained 28 points and closed at 10,817. The rally was also supported by banking stocks that witnessed strong buying pressure on expectations that government will increase foreign investment limits. Although, the markets turned volatile in the later part of the day as Sensex wiped out over 400 points from the day's high. Both mid cap and small cap stocks declined. BSE mid cap index lost over 300 points whereas BSE small cap index lost over 400 points.
Over 73% of the stocks that are traded on BSE today declined. Out of 3086 stocks, 2262 stocks declined, 696 stocks advanced and 128 remains unchanged. Adani Enterprises and UltraTech Cement declined close to 5% and 3% respectively after reporting decline in net profit in Q3FY18.
Among the A category stocks of BSE, MindTree (9.98%), Gruh Finance (8.65%) and Wabco India (4.22%) were the biggest gainers. The top 3 sensex gainers were ITC (2.61%), HDFC Bank (2.15%) and HDFC (1.99%). HDFC Bank market cap crossed Rs 5 lakh crores, becoming the first Indian bank to do so.
Out of the 19 BSE sectoral indices, 15 indices declined and 4 indices advanced. Metal, telecom and basic material stocks witnessed heavy selling pressure.
Among the global peers, Asian stocks advanced helped by surging stocks on Wall Street. Expectations of tax cuts, strong corporate earnings and healthy global economic recovery lifted US stocks. Japan's Nikkei Index slid after hitting 26-year high due to underperformance of financial stocks.