Sensex rallies by 577.73 pts on stronger global cues
Business

Sensex bounced back on the rally in financial stocks

Mumbai, Sep 25: Snapping the losing streak of last five sessions, the benchmark index of Bombay Stock Exchange (BSE) recovered by 347.04 points to end volatile session on a positive note at 36,652.06 on the back of a rally in the financial stocks.

The Nifty of National Stock Exchange (NSE) managed to recoup losses in the last hour of trade to climb decisively above psychological 11,000 despite oil prices moved near four-year high. A bit of value buying in beaten down stocks apart from positive global cues helped the market to recover from the shock.

Index heavyweights like HDFC-twins, Kotak Bank, Infosys, Axis Bank, HUL, Lupin, SBI, Maruti Suzuki and ITC were the top contributors to the Sensex index.

The sudden plunge in the stock of Yes Bank was most noticeable today as the stock fell to below Rs 200, down 9% from the previous close. However, the shares recovered to finally close the day 2.83% lower. DHFL shares, which slumped nearly 34% during afternoon deals, recovered nearly 16% from its day’s low to finally close trade down 23.49% at Rs 300.70.