Closing Bell: Kotak Bank, HDFC Bank lead charge as Sensex, Nifty end in green for 2nd day in a row

In what was marked by high ups and down, frontline indices managed a positive closing on Wednesday. Bulls took control of Dalal Street to ensure that markets close positively for the second consecutive trading session. BSE Sensex closed at 61,980.72, down 107.82 points or 0.17 per cent. Meanwhile, Nifty50 was trading at 18,409.65, down just 6 points and the broader market index also hit its lifetime high. Nifty Bank hit yet another lifetime high of 42,611.75 and closed at 42,535.30.

India VIX, a measure of volatility in the index was 15.10, up 3.17 per cent from the Tuesday closing.

The surge in benchmarks was led by Kotak Mahindra Bank and HDFC Bank which were top index contributors. The top gainers were Kotak Bank, Coal India, HDFC, Hindustan Unilever and TCS while the top losers were Apollo Hospitals, Adani Ports, Hindalco Industries, Bajaj Finance and Adani Enterprises.

Out of the 15 Nifty sectoral indices, 8 indices ended in the red against 7 winners. The top performance came from Nifty Bank (+0.38 per cent), Nifty Financial Services (+0.34 per cent) and Nifty IT (+0.29 per cent).

The top laggards were Nifty Realty (-1.03 per cent), Nifty Media (-1.44 per cent).

Read More: Stock Market HIGHLIGHTS: Sensex ends 100 points up, Nifty flat; dream debut for Global Health as stock closes 24% higher

There was stellar action from debutant stocks Global Health and Bikaji Foods whose shares listed at a premium and closed with gains. Global Health IPO share closed at Rs 417.30, up by Rs 81.30 or 24.20 per cent on the NSE. Meanwhile, Bikaji Foods shares ended at Rs 317.50, up 17.50 or 5.83 per cent.

There was stock specific action in broader markets as well. Nifty Mid Cap 100 closed at 31,197.90, down 0.65 per cent while Nifty Small Cap 100 settled at 9,696.55, down 0.83 per cent.

Singapore-based SGX Nifty, an early indicator of Nifty movement was trading with a negative bias. The SGX Nifty futures were trading at 18,459.5, down over 35 points or 0.19 per cent. DOW 30 Futures were also trading with declines at 33,685, higher by 92 points or 0.27 per cent, narrowing earlier losses.