Domestic bourses surged higher during the noon trading session as Bank and financial counters were contributing to the gains. HDFC, Reliance Industries, ICICI Bank, IndusInd Bank, HDFC Bank, Axis Bank and State Bank of India were among the top contributors to the rally in the market.
Among individual stocks, shares of Bajaj Auto climbed 1 percent, erasing all losses of the early session. The stock declined in the morning trade after Citi had maintained its 'sell' recommendation on the counter.
However, European shares ticked lower in early dealings on Thursday, as investors were tense ahead of a two-day European Union summit that will focus on last-gasp efforts to seal a deal on Britain’s exit from the bloc.
At 14:35 hours the 30-share benchmark index was trading at 38950.6 up by 351.61 points or by 0.91 % and then NSE Nifty was at 11547.4 up by 83.4 points or by 0.73 %.
Sensex touched intraday high of 39010.73 and intraday low of 38557.43 The NSE Nifty touched intraday high of 11565.3 and intraday low of 11439.65
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 47.90,+16.40%), IndusInd Bank Ltd. (Rs. 1335.60,+4.80%), Tata Motors Ltd. (Rs. 57.95,+3.57%), State Bank of India (Rs. 263.95,+3.15%), Tata Motors Ltd. (Rs. 128.85,+2.42%), among others.
The top losers of the BSE Sensex pack were Vedanta Ltd. (Rs. 146.10,-2.40%), Mahindra & Mahindra Ltd. (Rs. 718.00,-1.29%), HCL Technologies Ltd. (Rs. 1090.20,-0.97%), Tata Consultancy Services Ltd. (Rs. 2029.60,-0.79%), Oil And Natural Gas Corporation Ltd. (Rs. 140.75,-0.60%), among others.
Among the sectors, Bankex index was at 32754.64 up by 489.76 points or by 1.52%. YES Bank Ltd. (Rs. 47.90,+16.40%), RBL Bank Ltd. (Rs. 286.50,+11.02%), IndusInd Bank Ltd. (Rs. 1335.60,+4.80%), State Bank of India (Rs. 263.95,+3.15%), Federal Bank Ltd. (Rs. 84.15,+2.43%),.
On the flip side, Metal index was at 8870.41 down by -23.46 points or by -0.26%. National Aluminium Company Ltd. (Rs. 40.20,-3.48%), Vedanta Ltd. (Rs. 146.10,-2.40%), NMDC Ltd. (Rs. 101.30,-1.46%), Hindalco Industries Ltd. (Rs. 187.50,-0.37%), JSW Steel Ltd. (Rs. 219.40,-0.36%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2743 , shares advanced were 1367 while 1158 shares declined and 218 were unchanged.