MARKET LIVE: Sensex gains 550 pts, Nifty tests 17,750; Financials lead

Domestic equity markets were seen trading near the highs of the day in mid-noon trades, backed by strong gains in financial and IT shares.

The S&P BSE Sensex was up over 500 points at 60,450-odd level, while the NSE Nifty was seen above the 17,700 level.

Meanwhile, the broader markets languished in the negative zone. The BSE Midcap and Smallcap indices were down around 0.8 per cent each.

Sectorally, Nifty Bank traded in the positive territory, gaining up to 1 per cent. On the flipside, Nifty Realty, and Nifty Metal indices were bogged down in trade, declining up to 4 per cent.

Among individual stocks, shares of Adani-Group companies continued their downtrend, as 7 out of 10 group companies were locked at their respective lower circuits, despite reports of Gautam Adani looking to prepay some loans failed to put brakes on the group’s market rout. READ MORE

Besides, shares of IndusInd Bank rose 5 per cent on reports that the Hinduja group is planning to raise its stake in the private sector lender from 15 per cent to 26 per cent. READ MORE
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