Equity benchmark indices closed 1.6 per cent higher on Thursday with across-the-board buying in all sectors as investors hoped for another stimulus package from the government to offset Q1 losses stemming from COVID-19 lockdown.
The BSE S&P Sensex closed 629 points or 1.65 per cent higher at 38,697 while the Nifty 50 gained by 169 points or 1.51 per cent at 11,417.
All sectoral indices at the National Stock Exchange were in the postive terrain with Nifty private bank moving up by 3.9 per cent, financial service by 3 per cent and media by 2.9 per cent.
Among stocks, PVR jumped by 8 per cent to Rs 1,310 per share after the government allowed cinemas, theatres, and multiplexes to operate with up to 50 per cent of their seating capacity.
Inox Leisure was up by 6.3 per cent to Rs 287.75 per share. IndusInd Bank witnessed a dramatic jump of 12.4 per cent to close at Rs 593 per share on the back of heavy volumes.
Axis Bank moved up by 4.1 per cent, ICICI Bank by 3.8 per cent and Kotak Mahindra Bank by 2.9 per cent. The other prominent gainers were Bajaj Finance, Bajaj Finserv, Bajaj Auto, Tech Mahindra, Ad Ports and Asian Paints.
Reliance Industries gained by 0.6 per cent in the morning session after announcing that co-investors of private equity giant Silver Lake will invest an additional Rs 1,875 crore in its retail unit.
But it closed 0.24 per cent lower at Rs 2,229.05 per share on profit booking. The other prominent losers were Dr Reddy's, ONGC, ITC, Titan, Hindalco, Eicher Motors and Wipro.
The market will remain shut tomorrow on account of Gandhi Jayanti.
Meanwhile, Asian shares tried to extend gains on renewed hopes for fresh US stimulus measures. Hong Kong's Hang Seng was up by 0.79 per cent.
But regional trade was thinned by holidays in Greater China and South Korea.
Besides, the Tokyo Stock Exchange was forced to abandon trading due to a technical malfunction, halting activity on Japan's main stock market for an entire day for the first time.
( With inputs from ANI )
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