Closing Bell: Sensex gains 157 points to settle at 39,592, Nifty also rises by 51 points

The BSE Sensex ended 157 points higher on Wednesday, driven by gains in metal, power and financial stocks ahead of June derivatives expiry.

Extending its gains for the second session, the 30-share index settled 157.14 points, or 0.40 per cent, higher at 39,592.08. The index hit an intra-day high of 39,674.22 and a low of 39,319.64.

The broader NSE Nifty too rose 51.10 points, or 0.43 per cent, to finish at 11,847.55. During the day, the index touched a high of 11,871.85 and a low of 11,757.55.

Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.

On the other hand, Infosys, IndusInd Bank, Tech Mahindra, Bharti Airtel, Maruti, TCS and HDFC were among the top losers, shedding up to 1.12 per cent.

The BSE Sensex on Tuesday rallied about 312 points, driven by energy, auto and banking stocks as monsoon’s swift progress revived investor sentiment.

According to experts, a positive momentum has been triggered in domestic stock market as monsoon swiftly progressed towards central and north India.

Domestic investors are also hoping for positive news on the trade front in the backdrop of US Secretary of State Mike Pompeo holding talks with Prime Minister Narendra Modi in New Delhi, traders added.

According to experts, equities witnessed gains after positive momentum was triggered in the domestic stock market on reports of swift monsoon progress in the country.

On the currency front, the Indian rupee was appreciated 22 paise to 69.13 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, rose 1.17 per cent to USD 65.03 per barrel.

Meanwhile, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a mixed note in their respective early sessions.

(With inputs from PTI)