NIFTY50 closes above 19,400, Sensex climbs 594 points; Stock Market highlights

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The NIFTY Financial Services Index was up 0.8%. This was supported by gains in Axis Bank (+2.1%), Bajaj Finance (+1.9%), Bajaj Finserv (+1.6%).

BANKNIFTY ended 0.7% higher, supported by gains in ICICI Bank (+1.4%), Axis Bank (+2.1%) and HDFC Bank (+0.6%).

NIFTY Midcap100 index closed 0.8% higher at 39,937. Meanwhile, NIFTY Smallcap100 index is up 1.3% to close at 13,144.

The benchmark indices made gains for the third consecutive session amid positive cues from global markets. All NIFTY sectoral indices closed in the green except PSU Bank (-1.0%). Gains in ICICI Bank (+1.4%), HDFC Bank (+0.6%), L&T (+2.0%) and Reliance Industries (+0.8%) propelled the markets higher.

Bikaji Foods share gains more than 4.5% intraday after its consolidated Q2 net profit zooms over 46% YoY to ₹59.8 crore. Meanwhile, its revenue from operations stood at ₹609 crore, up 5.4% YoY.

Shares of the casual dining chain declined over 2% intraday. The fall comes after the company reported a net loss of ₹11.9 crore during the September quarter. During the same period, its revenue was at ₹302 crore, down 2.8% YoY.

Shares of the cement manufacturer rose 1.5% after the company said it plans to set up a 1.40 million tons cement grinding unit in Uttar Pradesh. For this, the company plans to invest ₹400 crore, financed through debt and internal accruals.

Shares of the luxury hotel operator are up 4.5% today. On Friday, the company reported its September quarter results.

Its Q2 net profit surged four-fold to ₹94 crore. This was supported by a 32.5% year-on-year rise in revenue to ₹552 crore.

The management said that it is committed to expanding its presence in the key markets.

Shares of the infrastructure company rose more than 2% after it emerged as the lowest bidder for a new project in Gujarat. The project work involves the development of the Dharoi Dam region with a bid value of ₹357 crore.