Sensex rallies over 200 points led by Yes Bank, Bajaj Finance

Equity benchmark indices opened higher on Friday as the rally was led by HDFC, Reliance Industries, and ITC. Investors remained cautious ahead of exit polls on May 19.

The Sensex was quoting at 37,603, up 209 points, while the Nifty was at 11,310, up 53 points. The market breadth was positive on the NSE with 946 shares advancing, 572 shares declining, and 546 remaining unchanged.

 

YES Bank, Indiabulls Housing, Coal India, GAIL, and Bajaj Finance were among the major gainers on the Nifty50, whereas Cipla, BPCL, Hindalco, NTPC, and Eicher Motors led losses.

 

In the broader market, Nifty midcap and smallcap were up 0.50% and 0.66% respectively.

 

Shares of Aurobindo Pharma slipped 5% on the NSE after the company received letters from the USFDA, classifying the inspections concluded at its API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI), it said in a statement on the exchanges.

 

Shares of Punjab National Bank are trading flat after the bank terminated an agreement to sell 1.08cr shares of PNB Housing Finance to General Atlantic Group aggregating to Rs925.8cr, as conditions were not met on Long Stop Date of May 15.

 

The Volatility gauge, India VIX is down 0.64% at 28.18.

 

The most active stocks on the NSE are Yes Bank, Bajaj Finance, and Reliance Capital.

 

Meanwhile, the Indian rupee slipped by 23 paise at 70.26 per dollar vs. previous close 70.03/$.

 

NIFTY FUTURE TIPS