Journalism of Courage
Domestic markets inched higher on Tuesday led by gains in the HDFC duo on the announcement of the merger date. BSE benchmark Sensex jumped 446.03 points, or 0.71 per cent to 63,416.03, while broader NSE Nifty50 climbed 126.20 points, or 0.68 per cent to 18,817.40.
HDFC chairman Deepak Parekh today said that the merger of HDFC and HDFC Bank will be effective from July 1, and the shares of the mortgage lender will be delisted effective July 13. Both companies’ shares jumped 1.50 per cent after the announcement.
HDFC Life, HDFC, HDFC Bank, ICICI Bank, Apollo Hospital, SBI, JSWSteel, Axis Bank, Divis Lab, Bharti Airtel, Kotak Bank, and Bajaj Finserv were the top gainers in today’s session.
Meanwhile, Cipla, Britannia, Tata Consumers, Adani Ports, UPL, Adani Enterprises, Dr Reddy, Nestle India, Eicher Motor, Maruti, Hero MotoCorp, and IndusInd Bank were the top losers.
Except FMCG and oil & gas indices, all sectors ended in the green, as Nifty Financial Services 25/50 jumped 1.61 per cent, Nifty Realty gained 1.24 per cent, and Nifty Private Bank gained 1.11 per cent.
Broader markets also extended the rally, as Nifty Smallcap 50 jumped 0.83 per cent, Nifty 100 climbed 0.64 per cent, Nifty 200 jumped 0.62 per cent, and Nifty 500 rose 0.61 per cent.
