Sensex ended at 28,024 and Nifty shut shop at 8,616

Sensex 24indianews

Sensex and Nifty ended Wednesday’s volatile session on a positive note led by gains in banking stocks. Earlier in the day, Nifty rose to fresh 15-month high of 8,665 while Sensex rose as much as 236 points on optimism over passage of GST Bill in the ongoing monsoon session of the Parliament. However, due to profit-booking at higher levels, the benchmark indices turned volatile and erased intraday gains to edge into the negative territory. The Sensex ended 48 points higher at 28,024 and Nifty advanced 25 points to shut shop at 8,616. Banking stocks witnessed good buying interest in trades today. The Nifty Bank index closed 0.85 per cent or 161 points higher at 19,022. Auto and metal shares also witnessed buying interest. On the other hand, pharma stocks faced selling pressure after Dr Reddy’s Labs shares crashed over 10 per cent on Wednesday, following the drugmaker’s disappointing performance in the June quarter. From the Nifty 50 basket of shares, 33 ended higher while 18 closed lower. Bharti Infratel was the top Nifty gainer the stock closed 4.72 per cent higher at Rs 380.55 after the mobile tower company posted a 71 per cent jump in Q1 net profit. Gurugram-based Bharti Infratel posted a net profit of Rs 756 crore in the June quarter. Total income from operations increased 6 per cent to Rs 1,453 crore as against Rs 1,372 crore in the corresponding period of the last financial year. HDFC ended 1.5 per cent higher at Rs 1,388 after India’s biggest mortgage lender, reported 37 per cent jump in its net profit at Rs 1,871 crore for the June quarter, meeting the Street’s estimates. Analysts polled by NDTV Profit had estimated HDFC’s net profit at Rs 1,888 crore. ICICI Bank, Maruti Suzuki, Adani Ports, IndusInd Bank, Hindalco, Tata Motors and Aurobindo Pharma were also among the gainers. On the other hand, ITC, Idea Cellular, Reliance Industries, Axis Bank and ACC were among the losers.

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