Sensex gains 460 points, Nifty at 7866

The Sensex closed at a hefty gain of 460.36 points or 1.8 per cent on 9 May. The stock markets saw high buying interest in trades which was better than the March quarter earnings from Indian corporates. On the other hand, NIFTY was at 133 points to settle at 7,866.

According to an NDTV report, The Bank Nifty rose 2.4 per cent to close at 16,686. Capital goods, auto, realty, IT and FMCG induces also jumped between 1.15-1.75 per cent each. Bosch earned the top spot in NIFTY with 4.4 percent to Rs. 19.971.

The financial sector also earned the top contributors to the gains on Sensex, ICICI Bank, HDFC, Axis Bank, HDFC Bank and SBI ending higher between 2-3.5 per cent.

ITC surged 2.6 per cent after the company said there is "progressive resumption" of production at its cigarette factories, which was suspended from 4 May over the large pictorial warning issue, reported the Business Standard.

Shares of Dr Reddy's Labs, HUL, Cipla, Tata Steel and GAIL plummeted.

Commenting on the gold price hike, RK Sharma, Executive Director and Chief Operating Officer, PC Jeweller, said the company may not see any rise in volumes this Akshaya Tritiya.