Key indices clocked modest gains on Thursday, as better results from banks and improving sentiment in IT stocks lifted the market sentiments. The Sensex recovered 210 points to end at a nearly 3-month high of 34,713.60 on buying by domestic investors in FMCG, IT, banking and TECk stocks.
Trading was volatile, on expiry of April derivatives (Future & Option) contracts and encouraging earnings by YES Bank aided the uptrend.
The BSE Sensex closed the day 212.33 points, or 0.62%, up at 34,713.60, with 17 stocks rising and 14 falling. The Nifty50 index of National Stock Exchange added 47.25 points or 0.45% to close the day at 10,617.80.
YES Bank was the star performer among Sensex pack, rising 8.26%, after the Bank reported a 29% Year on Year rise in its net profit at Rs 1,179.40 crore for the March quarter.
Yes Bank stock ended on NSE by 10.12% higher at Rs. 358.15. Followed by Yes bank, the other stocks namely IndusInd bank, Hindustan Unilever, and Eicher Motors jumped up to 2% on NSE as major gainers. On the other side, Bharti Airtel, Lupin, Infratel, Wipro and State Bank of India were the top drags.
Wipro shares declined 2.39 percent on NSE, while on the BSE it ended 2 percent down at Rs. 281.45, after the company on Wednesday reported a profit below expectation for the March quarter, as the company made additional provisions for two of its clients. The company also approved interim dividend as final dividend for 2017-18.