SENSEX, NIFTY50 resume rally after day's pause led by Reliance, HDFC Bank

The Indian equity benchmarks resumed their up move after a day's pause in the previous session led by gains in index heavyweight Reliance Industries after market participants gave a thumbs up to proposals unveiled by its management at the company's 49th annual general meeting on Friday. The SENSEX rose as much as 523 points and NIFTY50 index touched an intraday high of 24,168. Reliance Industries alone added 85 points towards gain in the SENSEX.

The SENSEX ended 291 points higher at 77,094 and NIFTY50 index advanced 90 points to close at 24,103.

Markets in Asia mostly ended higher with Japan's Nikkei rising 1.9%, China's Shanghai Composite advancing 1.8% and South Korea's KOSPI gaining 0.7%.

Back home, 13 of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended higher led by the NIFTY Pharma index's over 1% gain. NIFTY Healthcare, Media, PSU Bank, Realty, Oil & Gas, IT, Bank and Financial Services indices also rose between 0.5% and 1.4%.

On the flip side, NIFTY Consumer Durables and FMCG indices ended lower.

Broader markets also witnessed buying interest as NIFTY Midcap 100 index advanced 0.34% and NIFTY Smallcap 100 index gained 0.6%.

Among the individual stocks, Kirloskar Oil Engines advanced as much as 20% to hit an intraday high of ₹2,390.80 after it secured a 192 MW power systems order for large-scale data centres in India, according to an exchange filing.

Cipla was top gainer in the NIFTY50 index, the stock rose nearly 5% to close at ₹1,417 after global investment bank Citi in a note said that approvals like gFlovent, Goa facility and the upcoming gVentolin launch are key near-term triggers for the company.

Tech Mahindra, Dr Reddy's Labs, Bajaj Auto, Sun Pharma, Infosys, Reliance Industries and HDFC Life also rose between 1% and 2.2%.

On the other hand, Asian Paints, Titan, Nestle India, Shriram Finance, Trent, Power Grid, JSW Steel, Mahindra & Mahindra and ITC were top losers in the NIFTY50 index.

The overall market breadth was positive as 2,149 shares ended higher while 1,206 closed lower on the NSE.