Sensex gains over 1,100 points, Nifty above 11,500; L&T among major gainers
Indian stock market today increased their rally from where they finished on Sunday. The Sensex is up by 1,204 points or 3.17% at 39,219, while Nifty is up by 346.80 points or 3.08% at 11,621. Sensex and Nifty continued their upward momentum for the second consecutive day post the corporate tax cut by finance minister Nirmala Sitharaman.
The biggest gainers today were from banking and auto sector. Among the banking stocks, IndusInd, ICICI Bank, Axis Bank, RBL Bank and HDFC Bank were up between 5% and 7%. BPCL, Bajaj Finance, Eicher Motors, IOC and L&T were also among major gainers on the Nifty, while losers were Zee Entertainment, Infosys, Tata Motors, Power Grid and Dr Reddy’s Labs.
“A mega bull market is starting now on the back of the reforms of the century for India... I don't think we will be looking back anytime soon,” AK Prabhakar, head of research at IDBI Capital, told NDTV.