ICICI Bank, SBI, Axis Bank and Kotak Mahindra Bank are leading gainers among Sensex stocksThe stock exchange have actually started the week on a strong note, thanks to favorable hints from the worldwide front.
At 9:30 am, the BSE Sensex was at 48,540.15, greater by 650.19 points or 1.37 per cent and the NSE Nifty was at 14,527.45, up 185.45 points or 1.28 percent.
All the BSE sectoral indices are trading in the green, with the banking index gaining practically 2 per cent on the back of a 4 percent rise in ICICI Bank post its Q4 earnings.The more comprehensive markets are also trading strong this morning; the BSE Midcap index has actually gained 0.5 per cent and the BSE Smallcap index has actually included 0.97 per cent.Asian stocks increased for a 3rd straight session on Monday as threat cravings was helped by recent data showing the world economic recovery from the coronavirus pandemic was well on track while the U.S.
dollar loitered near two-month lows.US stocks rallied on Friday, driving the S-P 500 to a near-record closing high, after factory data and new house sales highlighted a flourishing economy while megacap stocks increased in anticipation of strong profits reports next week.The Dow Jones Industrial Average increased 0.67 per cent, S-P 500 got 1.09 per cent and Nasdaq Composite included 1.44 percent at 14,016.81.
On the stock-specific front, ICICI Bank shares soared 4.4 percent at Rs 598 to top the gainer's list on the BSE after the bank reported a 260.5 percent year-on-year (YoY) development in standalone profit at Rs 4,402.61 crore for quarter ended March 2021.
The earnings in the matching duration in 2015 stood at Rs 1,221.4 crore.
SBI, Axis Bank and Kotak Mahindra Bank were the other considerable gainers among the Sensex stocks.On the other hand, HCL Tech lost 1.5 percent at Rs 944.80 after the IT company reported a 72 percent decrease in profit at Rs 1,102 crore in the January-March quarter, compared to Rs 3,969 crore in the October-December quarter.
Britannia, Cipla and Hero Motocorp are the other major losers on the BSE.Tech Mahindra, HDFC Life Insurance Business and SBI Cards and Payment Solutions will declare their March quarter revenues during the day.On Friday, the BSE Sensex fell 202.22 points to 47,878.45 and the Nifty decreased 64.80 points to 14,341.40.