Another rate easing of 25 basis point by the US Federal Reserve and hopes of further reforms here propelled domestic indices to their lifetime highs in Thursday’s trade. The BSE Sensex gained for fifth consecutive session and touched an all-time high of 40,392.22 before closing the day at 40,129.05 up 77.18 points, or 0.2%, from Wednesday’s close. The Nifty 50 closed at 11,877.45 up 0.3%, or 33.35 points.
Leading the Sensex was Yes Bank that ended the day with 24% gains at Rs70.45, buoyed by the private lender telling the exchanges it had found a global investor willing to pump in $1.2 billion in it against fresh equity.
State Bank of India, India’s largest public sector lender, continued its bull run on the bourses, rising 7.75% to Rs312.25 on the BSE. The bank had on 25 October declared its September quarter earnings, revealing trebling of profits and lower non-performing assets.
Among the other top five gainers in the 30-share index were Infosys, Tata Motors, Bharti Airtel and HCL Technologies. Bajaj Auto and Hero MotoCorp gained short of 1% each while Mahindra & Mahindra fell 1.7%. Among the Sensex constituents, shares of all but one private sector lender ended in the red, HDFC Bank, Axis Bank and ICICI Bank all falling 1.5%-1.8%. HDFC, the exception, gained 1.3%.
The S&P BSE Mid-Cap index was up 1.14%. The S&P BSE Small-Cap index rose 0.94%. The market breadth was strong. On the BSE, shares 1,538 rose and 1018 shares fell. A total of 148 shares were unchanged.
Shares of Hindustan Construction Company (HCC) were up 19.99% to close at Rs10.06 on reports Haldiram Snacks, the Pune-based builder, Aniruddha Deshpande, and UV Asset Reconstruction Company (UVARC) have offered to buy out Lavasa Corporation.
Tata Global Beverages rose 8.70% to close at Rs317.30 after group's consolidated net profit gained 45% as compared to corresponding quarter of the previous year. Profit before taxes, excluding one-off items included under other Income in the prior year, is higher by 28%.