Finally, it settled at nearly two-week high of 25,688.86, gain of 460.36 points or 1.82 percent – its biggest single-day gain since April 13.
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Stocks rose almost 2 per cent on Monday, posting their biggest single-day percentage gain in almost four weeks, as a recent string of positive corporate results raised hopes about an improving domestic economy.
The Sensex touched a high of 25,827.03 points and a low of 25,620.27 points during the intra-day trade.
However, participants will continue to react to the earning’s session with some of the prominent names including United Breweries, Union Bank of India, IL&FS Transportation Networks, Dena Bank, Central Bank of India, Cadila Healthcare and Bank of Baroda due to slate the numbers today.
Shares of FMCG major Hindustan Unilever surged 1.93 per cent to Rs. 862.45 after the company reported a 7 per cent rise in standalone net profit for the March quarter. State Bank of India (SBI.NS) and ICICI Bank (ICBK.NS) were up 2 percent and 2.8 percent, respectively. The drugmaker’s quarterly profit plunged 86% year over year, hurt by a one-time 4.31 billion-rupee write-off on account of outstanding receivables from Venezuela. “The code is also a big positive for the banking sector”.
While Japan’s Nikkei was down 0.41 per cent, Hong Kong’s Hang Seng shed 0.48 per in early trade on Thursday.
India’s industrial output rose by 0.1 per cent in March, largely losing the momentum generated in February when it had risen by two per cent, after a three-month fall.
However, Tata Motors fell by 3.58 per cent followed by NTPC (1.75 pc), ONGC (1.65 pc) and Adani Ports (0.99 pc). They are on track to end the week lower, the former by 1.4 percent and the latter by 2.7 percent, after being hit earlier in the week by fears that Beijing may begin to taper its stimulus plans due to concerns about excessive debt.
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The market breadth turned negative as 1,334 stocks ended lower, 1,277 closed higher while 153 ruled steady.
