Markets maintain bull run as financial stocks shine

Mumbai: The Sensex soared 790 points while the Nifty vaulted above the 14,850-mark on Wednesday as markets maintained their winning streak for the third session on the trot amid robust corporate results.

A strengthening rupee and short covering ahead of F&O expiry also fuelled the rally, traders said, even as the COVID-19 situation remained an overhang.

The 30-share BSE Sensex surged 789.70 points or 1.61 per cent to finish at 49,733.84.

Similarly, the broader NSE Nifty surged 211.50 points or 1.44 per cent to 14,864.55.

Bajaj Finance was the star performer in the Sensex pack, surging 8.32 per cent, a day after it posted a 42 per cent increase in consolidated net profit at Rs 1,347 crore for the March quarter.

Bajaj Finserv gained 4.06 per cent after reporting an over four-fold jump in consolidated net profit to Rs 979 crore for the fourth quarter.

IndusInd Bank, ICICI Bank, Kotak Bank, SBI, Bajaj Auto, HDFC Bank and HDFC were among the other prominent winners, climbing as much as 5.08 per cent.

However, Nestle India, HCL Tech, L&T, TCS, Dr Reddy's and ITC closed with losses of up to 0.96 per cent.

Sectorally, BSE bankex, finance, auto, telecom and consumer durables indices rallied as much as 3 per cent, while realty, metal, healthcare and capital goods ended in the red.

In the broader markets, the BSE midcap and smallcap indices spurted up to 0.99 per cent.

Meanwhile, international oil benchmark Brent crude was trading 0.23 per cent higher at $65.82 per barrel.

Foreign institutional investors were net sellers in the capital market on Tuesday as they sold shares worth Rs 1,454.75 crore, according to exchange data.