Markets close bullish; Sensex holds 49,580, Nifty 50 over 14,920; Bank outperforms; IndusInd, SBI, ICICI Bank, HDFC Bank top gainers

In terms of sectoral indices, on NSE, Bank Nifty outperformed by 4% and Nifty Financial Services surging over 3%. Auto and Metal index climbed around 2% each.

May 17, 2021 04:05 IST India Infoline News Service

Indian markets closed on a bullish note led by a broad-based buying across sectoral indices on Monday. Banking and financial stocks outperformed, while metal and auto stocks also made significant gains. The continues decline in the Coronavirus pandemic in India has also played a role in lifting equities.

Sensex closed at 49,580.73 higher by 848.18 points or 1.74%. Nifty 50 finished at 14,923.15 up by 245.35 points or 1.67%.

Top gainers on Nifty 50 are - IndusInd Bank surging 7.5% followed by SBI advancing by 6.7% and ICICI Bank strengthening by 4.5%. HDFC Bank and Axis Bank soared by nearly 4% and 3.5% respectively.

Top bears on Nifty 50 were - Cipla and Bharti Airtel diving by 2.3% each, while L&T down 1.9%. SBI Life and Nestle India dipped by 1.4% and 1%.

In terms of sectoral indices, on NSE, Bank Nifty outperformed by 4% and Nifty Financial Services surging over 3%. Auto and Metal index climbed around 2% each.

In the last 24 hours, India registered 2,81,386 new cases. The daily new COVID cases being registered in India are now less than 3 Lakhs after 26 days. 3,78,741 recoveries were registered in the last 24 hours. Also, there is a decline in the Weekly positivity rate is also observed which stands at 18.17%.

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