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Closing Bell: Sensex tops 40,000, Bank Nifty hits one month high; Bharti Infratel top loser

Closing Bell: Sensex tops 40,000, Bank Nifty hits one-month high; Bharti Infratel top loser

Closing Bell: Sensex tops 40,000, Bank Nifty hits one-month high; Bharti Infratel top loser
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By Mousumi Paul  Oct 30, 2019 3:53:35 PM IST (Updated)

Indian equity benchmark indices closed higher for the second consecutive day on Wednesday on the back of gains from PSU banks.

Indian equity benchmark indices closed higher for the fourth consecutive day on Wednesday on the back of gains from PSU banks. Both the Sensex and Nifty are now 260 points away intra-day record highs.

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Nifty PSU bank index rose 3.69 percent with Central Bank (16.11 percent) and Syndicate Bank (12.82 percent) leading the gains. The Nifty Bank hit another one-month high but failed to hold 30,000.
At 3:30 pm, the 30-share BSE Sensex ended 220.03 points or 0.55 percent at 40,051 while 50-share index Nifty50 ended with 63.40 points or 0.54 percent higher at 11,850.25.
GAIL, SBI, TCS, Grasim and Bharti Airtel were the top gainers while Bharti Infratel, YES Bank, Maruti Suzuki, Cipla, and Britannia were the top laggards at the closing bell.
Petronet LNG's share price surged 6.7 percent intraday on Wednesday after the company's reported strong Q2 earnings.  The company's Q2FY20 standalone net profit rose 96 percent at Rs 1,103.1 crore against Rs 560.3 crore in the quarter ended in June.
The share price of InterGlobe Aviation traded 5.6 percent higher on intraday basis after the airlines placed a firm order of 300 A320 neo family aircraft. The latest order comprises A320neo, A321neo and A321XLR aircraft and takes the total number of A320neo family aircraft orders by IndiGo to 730.
BEML's share price soars 10 percent after stake sale talks begin again. The shares jumped 10 percent intraday on Wednesday after the government revisited the plan for strategic stake sale in BEML. The government may soon issue EOI (Expression of Interest) for 26 percent stake sale in BEML with management control.
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