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Sensex Jumps 488 Pts, Realty And Banking Stocks Shine

The Sensex and Nifty recovered from its previous day's losses backed by advances in Banking, IT, and Realty stocks. The ongoing earnings session will further provide more direction to the markets in the near-term, said experts.

Photo Credit :

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The Indian equity markets opened gap-up and later extended the gains led by advances in Automobile and Banking stocks. The Sensex jumped nearly 700 points in the intraday session, while the BSE Midcap and Smallcap indices also gained over a per cent each.

At close, the headline BSE index was up 488.10 points at 59,677.83, while the Nifty-50 index closed 144.35 points higher at 17,790.35. Shares of Titan Company recorded a new high as the scrip surged as much as 10 per cent after the company posted a strong recovery in Q2FY21. M&M, Maruti Suzuki, and IndusInd Bank also advanced four per cent each in the day's trade. Overall, the 30-share pack Sensex closed with 20 advances and 10 declines.

The broader markets also joined the party as both BSE Midcap and Smallcap indices closed 1.68 and 1.38 per cent higher each. Shares of Oberoi Realty(+9.11 per cent), Aditya Birla Fashion (8.04+ per cent) , and Godrej Properties (+8.48 per cent) were the top Midcap gainers, while Nureca Syncom Formula, and Best Agrolife were the top movers in the Smallcap space, up 20 per cent each.

"Midcaps/Smallcaps outperformed largecaps by 4.1%/3.3% in Sep'21. In the last 12 months, midcaps have risen 79% v/s a 57% rise for the Nifty," said Motilal Oswal in a note dated October 7, 2021.

Except for the energy pack, all other sectors in the market closed with strong buying interest with the Nifty Realty pack being the top performer, up over six per cent led by shares of Sobha(+16.64 per cent) and Oberoi Realty. Shares of Sobha were in major focus as the company's new sales grew by 50.62 per cent to 13.48 lakh square feet in Q2FY22 versus 8.91 lakh square feet in Q2FY21. Total sales value increased 49.32 per cent to Rs 1,030.2 crore from Rs 689.9 crore in the same period.

The Nifty Auto and IT pack also advanced over three and two per cent, respectively.

Overall, 1283 shares advanced and 528 shares declined in the NSE at market closing on Thursday.


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sensex share markets stock market equity nifty