Consequently, the bank stocks rose on Wednesday. HDFC Bank and ICICI Bank were among the top gainers, closing 5% and 4% higher, respectively. Axis Bank too rose 5%.
"A late surge by bulls across financials post lifting of the embargo on the grant of GOI business to private banks
took indices up 2 per cent when trade time was extended till 5.00 pm," said S Ranganathan, Head of Research at LKP Securities.
Equity benchmark Sensex soared 1,030.28 points and the Nifty rallied over 270 points on Wednesday, tracking strong buying in financial stocks, after trading hours were extended following a technical glitch at NSE.
After resumption of trade at 3.45 pm, NSE Nifty zoomed 274.20 points or 1.86% to end at 14,982.
Similarly, the 30-share BSE index settled 1,030.28 points or 2.07% higher at 50,781.69.
Axis Bank was the top gainer in the Sensex pack, surging around 5%, followed by HDFC twins, ICICI Bank, Bajaj Finance
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