SENSEX, NIFTY50 resume up move after a day's pause led by HDFC Bank, SBI

The Indian equity benchmarks resumed their up move after a day's pause in the previous session powered by gains in index heavyweights like HDFC Bank, State Bank of India, Eternal, Ultratech Cement, Bajaj Finance, Reliance Industries and Sun Pharma.

The SENSEX rose as much as 591 points and NIFTY50 index touched an intraday high of 24,220. However, profit booking in afternoon deals near day's highs led to partial correction in the benchmarks.

The SENSEX ended 130 points higher at 77,185 and NIFTY50 index advanced 26 points to close at 24,078.

Other markets in Asia also ended higher powered by a rally in chip makers led by South Korean chip maker SK Hynix. Japan's Nikkei rose 1.5%, South Korea's KOSPI index jumped 6.24% and Hong Kong's Hang Seng advanced 1.4%.

Back home, 10 of 15 major sector gauges compiled by the National Stock Exchange (NSE) ended higher led by the NIFTY PSU Bank index's 0.95% gain. NIFTY Bank, Financial Services, Pharma, Private Bank, Consumer Durables, Healthcare, Oil & Gas and Private Bank indices also rose between 0.3% and 0.7%.

On the flip side, metal, IT, media, realty and FMCG shares faced selling pressure.

Broader markets also witnessed buying interest as NIFTY Midcap 100 index advanced 0.3% and NIFTY Smallcap 100 index rose 0.7%.

Among the individual shares, Ather Energy ended 8% higher at ₹1,296 after the company said that Her MotoCorp said that it will invest ₹1,000 crore in the company.

ICICI Prudential Life shares ended 4.2% higher at ₹525 after the company said that it earned a net profit of ₹386 crore in the first quarter of current financial year, marking an increase of 28% from ₹302 crore in the same period last year.

The company's value of new business (VNB), a critical metric to measure the long-term economic profitability of an insurer, advanced 25% to ₹571 crore compared with 457 crore in the year-ago period.

VNB margin expanded by 220 basis points to 26.9% from 24.5%.

Ultratech Cement was top gainer in the NIFTY50 index, the stock rose 2.91% to close at ₹11,830. Eternal, HDFC Life, Shriram Finance, Eicher Motors, State Bank of India, Bajaj Auto, Bajaj Finance, SBI Life and IndiGo also rose between 1.23% and 2.8%.

On the other hand, Hindalco, Power Grid, Tata Steel, Larsen & Toubro, JSW Steel, Infosys, Wipro, Dr Reddy's Labs, Tata Consumer Products and NTPC were top losers in the NIFTY50 index.

The overall market breadth was marginally positive as 1,847 shares ended higher while 1,445 closed lower on the NSE.