Nifty, Sensex surge near 1%; Kotak Bank zooms 11%, Shree Cement, Nestle contribute in gains

Bullish sentiments were recorded in banking, auto, financials, FMCG, pharma and media stocks.

Oct 27, 2020 08:10 IST India Infoline News Service

BSE with Bull
Indices gained momentum during the second half trading session of Tuesday, supported by bullish sentiments in banking, auto, financials, FMCG, pharma and media stocks. On the contrary, IT, PSU banks and realty stocks were laggards. While trading in metal stocks was broadly subdued.

At around 2.20 pm, Nifty was performing at 11,866.85 higher by 99.10 points or 0.84%, while Sensex was trading at 40,443.50 soaring by 298 points or 0.74%.

Nifty Bank was top gainer surging by 2.25%, followed by Nifty Financial Services which also zoomed by 1.67%. Nifty Auto, Nifty FMCG, Nifty Media and Nifty Pharma advanced by 1% each. While Nifty IT was the top underperformer slumping by 1.2%.

Nifty 50 recorded 31 advances and 19 declines.

Gainers on Nifty included Kotak Bank in lead, as the stock skyrocketed by 11% to Rs1,573.10 per piece, followed by Shree Cement at Rs21,679.85 per piece above 6.15%, Nestle at Rs17,213.60 per piece higher by 5.87%, Asian Paint at Rs2,198.25 per piece up 5.66% and Bajaj Finance at Rs3,423.80 per piece gaining by 3.94%.

On the other hand, heavyweight Infosys, Wipro and TCS were major underperformers, tumbling by 2% each. State-owned ONGC and GAIL also slumped by nearly 2%. 

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