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Indian equity markets ended the first session of the November F&O expiry week with gains, even as banking stocks underperformed in a volatile session.
The S&P BSE Sensex ended 0.4% higher at 44,077 while the NSE Nifty 50 index ended 0.5% higher at 12,926. The index is now 74 points away from hitting the mark of 13,000.
Banks were the underperformers in today's session as investors chose to place their bets in the defensive sectors like I.T. and Pharma, both of whom underperformed last week.
However, some financial names outperformed in today's session. Shares of IDFC Ltd. ended 20% higher - their biggest single-day gain since 2009 while IDFC First Bank ended at the highest since March this year. Ujjivan Financial Services gained the most since listing in 2016, ending 18% higher while Ujjivan Small Finance Bank ended 20% higher - the most in over four months.
The Nifty Bank index ended 0.7% lower while the PSU Bank index ended 0.2% lower.
The Nifty I.T. index was the top sectoral gainer, ending 2.8% higher while the Nifty Pharma index was up 1.8% at the close of trade.
The Nifty Metal and Nifty Realty indices too gained 1% each.
Broader markets outperformed in today's session. The Midcap index ended with gains of 1.3% while the Smallcap index outperformed even further, ending with gains of 2.1%.
India Volatility Index was back above the mark of 20 after six trading sessions, ending 6.1% higher at 20.81.
1,082 stocks on the NSE ended with gains while 784 stocks declined.
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Indian equity markets have opened higher for the second straight day, making a move towards fresh record highs.
The S&P BSE Sensex opened 0.6% higher at 44,164 while the NSE Nifty 50 index opened 0.8% higher and 40 points shy of 13,000 at 12,960.
Among the sectoral indices, the PSU Bank index has opened with gains of 0.8% while the Nifty Bank, Nifty Auto and Nifty Realty indices are trading with gains of 0.7% each.
Broader markets have opened with strong gains as well. The Nifty Midcap index is up 0.8% while the Smallcap index is outperforming with gains of over 1.2%.
1,162 stocks on the NSE are trading with gains while 316 stocks are declining in the early minutes of trade.
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