Sensex Surges 76 Points, Nifty Gains For Fifth Straight Day, Yes Bank Shares Jump 12%

Domestic equity benchmark BSE Sensex ended 76 points up while Nifty continued its gain for the fifth straight day on Wednesday, tracking mixed global cues. While the Sensex closed at 37,221.80, Nifty ended at above the 11,000-mark. Stocks of Yes Bank jumped 13 per cent after reports of Paytm’s plan to buy stocks in the bank from its co-founder Rana Kapoor.

Besides, Tata Motors, VEDL shares emerged among the biggest gainers while ONGC and HCL tech were among the biggest losers, shedding up to 4 per cent.

In the previous session on Monday, the BSE barometer ended 163.68 points, or 0.44 per cent, higher at 37,145.45; and the NSE Nifty settled 56.85 points, or 0.52 per cent, up at 11,003.05. Stock exchanges were closed on Tuesday on account of Muharram.

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According to experts, market sentiment has improved due to positive global cues and hopes of further measures by the government to boost the economy after Finance Minister Nirmala Sitharaman's presser.

Sitharaman on Tuesday said the government has set up a task force to boost investments in infrastructure projects and is in the process of identifying the sectors which needed funding from the centre.

On Monday, foreign portfolio investors sold shares worth a net of Rs 188.08 crore, while domestic institutional investors purchased shares worth Rs 686.47 crore, provisional data showed.

HIGHLIGHTS

• Nifty continued the gains on fifth straight day and ended above the 11,000-mark.
• Sensex surged 76 points, tracking mixed global cues.
• Yes Bank, Tata Motors and VEDL were among the top gainers of the day.