Recovery in the second half helped Indian markets end April series on a high note with the Sensex gaining 212 points to 34,714 and the Nifty gaining 47 points to close above 10,600.
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But, the major outperformers were from the banking space, led by Yes Bank. The banking index, Nifty Bank, gained 196 points, of which 134 points were contributed by Yes Bank.
The Rana Kapoor-led bank reported Q4 numbers above estimates with profit coming in at Rs 1,179 crore against poll of Rs 1,061 crore.
Asset quality was also stable. The gross NPA came in at 1.28% compared to 1.72% and net NPA at 0.64% compared to 0.93% (QoQ).
Besides number, the stock surged on the news of Kapoor's reappointment as MD and CEO.
Other stocks that helped the market gain were ITC, Infosys and TCS. Reliance also closed a percent higher a day ahead of earnings. L&T, Bharti Infratel and SBI were the top losers.
The April series saw benchmark indices, the Sensex and the Nifty gaining 5% each, while Nifty Bank gained 3%. Stocks that outperformed in the series were TCS, M&M, Yes Bank and Kotak Mahindra Bank.
Oil marketing companies and PSUs gave negative returns in the series gone by.
The options that were the most active on the expiry day were the Nifty 10,600 & 10,500 Calls. Both the options shed 23 lakh and 11 lakh shares each in open interest.
On the global front, Asian markets had a mixed day with the Nikkei closing with a gain of 104 points, while the Shanghai and the Hang Seng slipped 1% each.
First Published: IST