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Indices end at record closing highs on Modi win hangover; Sensex up 623 pts

SI Reporter/New Delhi 24 May 19 | 07:06 AM

The benchmark indices ending Friday's session at record closing highs, after investors' optimism was boosted by Narendra Modi-led National Democratic Alliance (NDA's) return to power the previous day. While the gains were across the board, bank stocks and financials made the highest contribution to the indices' rise.

The S&P BSE Sensex ended the day 623 points, or 1.6 per cent, higher at 39,435, with ICICI Bank, Larsen & Toubro, Bharti Airtel, Vedanta, and Tata Motors leading the list of gainers. Oout of the 30 BSE constituents, only Hindustan Unilever and NTPC ended the day in the red. 

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The broader Nifty50 index rose 187 points to settle at 11,844. About 1823 shares advanced, while 676 declined, and 150 shares remained unchanged on the NSE. 

This was the benchmark indices' biggest weekly gain in 2019. 

India VIX, a measure of voltality in Nifty, slipped 40 per cent in the last two days, registering its biggest 2-day fall in five years.

In the broader market, the S&P BSE MidCap index jumped 295 points, or 2 per cent, to hover at 14,945 levels, while the S&P BSE SmallCap closed at 14,670 levels, up 347 points, or 2.4 per cent.

All the Nifty sectoral indices ended the day with gains, with Nifty PSU Bank gaining the maximum 5.6 per cent, while Nifty Realty also rose 4.4 per cent.

BUZZING STOCKS

Shares of JMC Projects (India) surged 15 per cent to Rs 136 apiece in the opening trade on the BSE on Friday after the company secured new orders worth of Rs 616 crore for residential and commercial projects in South India.  READ MORE

KEI Industries traded higher for the fifth straight day, up 5.6 per cent at Rs 491.95 on the BSE on Friday, after the company reported a strong operational performance in the March quarter (Q4FY19). READ MORE

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Sensex

Company Price Gain (%)
IndusInd Bank1,462.951.93
Tata Motors162.901.12
Axis Bank796.600.97
O N G C169.000.93
Larsen & Toubro1,565.200.93

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