Domestic Equity Market traded positively on Wednesday in an extended trading session, led mainly by gains in banking and financial stocks .India's largest stock exchange, the National Stock Exchange (NSE), abruptly shut its cash and derivatives segment, following a glitch which froze stock prices, triggering panic among investors. Trading was halted at 11:40 am and resumed only at 3:30 pm. The Sensex ended 1,030.28 points or 2.07% higher at 50,781.69 with shares like Axis Bank, HDFC Bank, ICICI Bank, Bajaj Finance, HDFC, SBI,L & T , Ultratech Cement were having gains of 5.23%, 5.12%, 4.10%, 3.15%, 3.06%, 2.65%, 2.59%, 2.22% respectively while shares of Powergrid, Dr. Reddy, TCS, Maruti, NTPC, Sun Pharma, Asian Paints were having loss of 1.31%, 1.065, 0.96%, 0.41%, 0.39%, 0.25%, 0.19% respectively. The Nifty50 rose 274.20 points or 1.86% to settle at 14,982.00 with indexes like Bank, Media, Realty, Metal, Energy Were having gains of 3.80%, 1.45%, 0.86%, 0.78%, 0.35% whereas IT Index was the only loser with a loss of 0.11%.
TOP STOCKS IN NEWSCAST:
Axis Bank and ICICI Bank surged nearly 5% as Amazon is joining hands with Axis Bank, ICICI Bank and several others to create a national payments network that will rival the National Payments Corporation of India’s (NPCI) dominance in the retail payments industry in India.
State Bank of India(SBI) gained over 2% as the bank is offering SBI Pension Loan to the senior citizens that includes retired central government employees, state government pensioners, defence pensioners and family pensioners receiving a regular pension at a very affordable rate of interest.
Ultratech Cement rose over 2% as the company has announced a 12.8 mtpa new capacity expansion in central and eastern region.