Sensex Rallies 1,030 Points, Nifty Reclaims 14,950 Led By Private Banks

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Sensex Rallies 1,030 Points, Nifty Reclaims 14,950 Led By Private Banks

The National Stock Exchange benchmark Nifty 50 index surged on Wednesday after trading resumed following a halt caused due to a technical glitch. The Nifty 50 index surged as much as 301 points to hit an intraday high of 15,009 and Sensex rallied as much as 1,130 points to hit high of 50,881 on the back of a rally in private sector lenders.

The Sensex ended 1,030 points higher at 50,782 and Nifty 50 index climbed 274 points to settle at 14,982.

Private banks surged after the government lifted the embargo on private sector banks for the conduct of government-related banking transactions. Nifty Private Bank index surged nearly 4 per cent following the government’s decision.

Nifty Bank, Financial Services, PSU Bank, Media and Metal indexes also rose between 1-3.6 per cent.

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On the flipside, IT index was top sectoral loser.

All the 10 private lenders in Nifty Private Bank index ended higher led by HDFC Bank’s nearly 5 per cent gain. Axis Bank, Federal Bank, RBL Bank, ICICI Bank and IDFC First Bank also rose between 3.5-4.5 per cent.

Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 and Smallcap 100 indexes rose over 1 per cent.

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