Sensex Ends Above 51,100, Nifty Registers Record Closing High
The Indian equity indexes ended higher despite the monthly expiry of May contracts and weak foreign markets. The IT and Financial names led the BSE Sensex to close higher by 97.70 points at 51,115.22, and the Nifty-50 ended marginally higher by 36.40 points at 15,337.90.
The 30-share pack Sensex bagged gains in 19 shares with shares of SBI, Kotak Mahindra Bank, and Axis Bank being the top gainers as they added over two per cent each in the day’s trade on Thursday, May 27. Shares of SBI have been on an upside rally post its strong Q4 results and after the Ace Investor Rakesh Jhunjhunwala maintained a buy call on the stock.
Sectorally, all other sectors ended higher except for the Pharma and Energy sector. The Nifty Bank, IT, and PSU Bank sector moved 1-2 per cent higher in the intraday session on Thursday. Shares of PNB (+7.39 per cent), Bank of Baroda (+3.66 per cent) were the top newsmakers in the PSU Bank space.
The broader markets also edged marginally higher as both BSE Midcap and Smallcap indices gained nearly a per cent in the day’s trade on Thursday. Shares of Reliance Infra, Jai Corp, and Rupa & Company gained over 10 per cent each to lift the Smallcap index higher.
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