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Home >Markets >Stock Markets >Sensex rises over 200 points, ICICI Bank, HDFC lead gains in financials
Sensex ended 226 points higher at 41,613
Sensex ended 226 points higher at 41,613

Sensex rises over 200 points, ICICI Bank, HDFC lead gains in financials

  • Global markets were mostly higher today
  • UltraTech Cement, Tech Mahindra, L&T were among the other top gainers

Shrugging off a weak start, Indian markets posted strong gains today. Financials led the gains today. The Sensex ended 226 points higher at 41,613 while the broader Nifty ended 0.5% higher at 12,248.

Among financials, Axis Bank rose 2%, Kotak Bank 2%, Bajaj Finance 1.5%, ICICI Bank 1.1% and HDFC 1%. UltraTech Cement (2.5%), Tech Mahindra (2.5%), and L&T (2%)were among the other top gainers among the Sensex stocks.

Elsewhere, shares of PNB Housing Finance slumped 11% after it posted a weak set of quarterly numbers on Thursday.

Investors are now keeping a close watch on the February 1 budget for clues on the government's move to revive economic growth, which has slipped to a more than six-year low.

Vinod Nair, head of research at Geojit Financial Services, said: "The pre-budget rally has been solid. For this rally to sustain a lot will depend on the actual outcome of Budget and final Q3 earnings trajectory."

Mid and small caps are continuing its positivity in expectation of revival in growth & liquidity from institutional investors, he added.

The broader markets also posted strong gains today. The BSE midcap index rose 0.8% while smallcap 0.6%.

Global markets were mostly higher today after World Health Organization stopped short of declaring China virus outbreak a global health emergency. (With Agency Inputs)

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