Sensex registers over 370 pts hike, crosses 32k mark

The Nifty of National Stock Exchange too rose by 98.60 pts to 9,380.90.In opening trade, the Sensex went up by 358 pts to settle at 32,101.91 pts. During the day, it shot up by nearly 456 pts to reach at 32,199.91-- days high-- before closing at 32,114.52, 371.44 pts high from its previous close.

The Nifty registered days high and low at 9,404 and 9,260 pts respectively.In Sectoral indices, Finance, bankex, realty and oil and gas kept the rally intact for another day.

Sharp rally in financial stocks due to better-than-expected March quarter results (Q4FY20) of IndusInd Bank and Axis Bank-Max Financial deal, helped benchmark indices end over 1 per cent higher.

Private-sector lender Axis Bank said it would acquire an additional 29 per cent stake in Max Life Insurance, raising its total stake in the private life insurer to 30 per cent after the completion of the deal. The lender is also slated to release its March quarter numbers later in the day.

Other scrips including Bajaj finance, ICICI Bank and HDFC too supported the market.

However, selling in Sun Pharma, NTPC, Nestle India, HCL Technologies and Bajaj Auto capped from further gains, brokers said.

The mid cap rose to 0.80 pc and small cap by 0.77 pc.

In 30 scrips, 18 advanced while 12 declined.

In global stock markets, European shares hovered near two-week highs .

In Asia, China’s blue-chip and start-up shares inched up after fresh regulatory reform cheered the market.

However, Shanghai benchmark slipped as big banks lined up their earnings following a tumultuous first quarter. Around the region, MSCI’s Asia ex-Japan stock index was firmer by 0.4 per cent, while Japan’s Nikkei index closed down 0.1 per cent, Brent crude fell 83 cents, or 4.1 per cent, to $19.16 a barrel.