Market LIVE: Sensex reverses all Budget day losses, rises over 800 pts; PNB shares dip on Q3 loss

RIL, Hero Moto Corp, HDFC Bank, HDFC, UltraTech Cements were among the top gainers

Market LIVE: Domestic equity market benchmarks Sensex and Nifty were trading near the day’s high level with Nifty hovering around 11,950 level. S&P BSE Sensex was trading 800 points or 2.03 per cent higher at 40,681.64 levels while the broader Nifty 50 index was ruling at 11,950 points, up 242 points or 2.07 per cent. Hero MotoCorp, HDFC, ICICI Bank and Bajaj Finance were among the top gainers on the Sensex while Bajaj-Auto and Hindustan Unilever were the top laggards in the afternoon deals. All the sectoral Nifty indices were trading in green with the Nifty Bank index as the top gainer.  Currently, the market capitalisation of Sensex sits at Rs 156.24 lakh crore, similar to what it was just before the Budget was presented.

Barring Nifty Realty, all the sectoral indices were trading in green. The Nifty Bank index jumped 284 points led by gains in HDFC Bank, Bank of Baroda, Punjab National Bank and Axis Bank. Nifty Financial Services index, too, was trading higher driven by M&M Financials, Shriram Transport Finance Company, Edelweiss and HDFC twins.

Shares of Punjab National Bank plunged 1.66 per cent after the Q3 results and were trading at Rs 56.40. The PSU bank reported a standalone loss of Rs 492 crore for the third quarter, down from a profit of Rs 246 crore in the same period last year. Meanwhile the consolidated loss of Rs 384 crore reported by the bank.