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Sensex snaps 6-day losing streak, jumps 646 pts; banks advance

Wednesday,   09-Oct-2019   04:02 PM (IST)

Snapping their six-day losing streak, the benchmark indices staged a smart comeback on Wednesday to end nearly 2 per cent higher, led by heavy buying in banking stocks. The S&P BSE Sensex added 646 points or 1.72 per cent to end at 38,177.95 levels with IndusInd Bank (up nearly 6 per cent) being the top gainer and YES Bank (down 5 per cent) the biggest loser. Out of 30 components in the index, 8 stocks ended in the red and rest 22 in the green. The broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,313.30 levels, up 187 points or 1.68 per cent. Nifty Bank advanced a whopping over 1,018.30 points or around 4 per cent to settle at 28,785.85 levels, with 11 out of 12 constituents ending in the green. India VIX, the volatility guage, dropped over 4 per cent to 17.09 levels.  Among the sectoral indices on the NSE, barring IT, all the indices ended in the green. Nifty Private Bank index gained 3.47 per cent to 16,095 levels. Financial services, realty and metal counters, too, made merry in the trade. In the broader market, the S&P BSE MidCap index rallied 189 points or 1.38 per cent to end at 13,869.35 levels, while the S&P BSE SmallCap index closed at  12,796.47, up 83 points or 0.66 per cent.