The market breath turned positive after an action packed speech by the new Reserve Bank of India Governor Raghuram Rajan detailing the roadmap for reforms after the market hours on Wednesday.
Investors’ confidence was boosted by the speech which was peppered with slew of measures to boost the currency and sagging economy. However, IT stocks fell on profit booking as the rupee strengthened against the dollar.
Sensex gained 412 points to 18,979, while Nifty was up 145 points at 5,593.
The clearance of Pension Fund Regulatory and Development Authority (PFRDA) Bill that paves foreign investment in the sector also improved investors’ sentiments.
Among the sectoral indices, banking gained more than nine per cent, followed by realty with five per cent. PSU and Consumer Durables were up more than four per cent each. Capital Goods and FMCG were other major gainers. IT and Technology were in negative.
Top gainers include Yes Bank (22%), Financial Tech (16.39%), Axis Bank (16%), Federal Bank (12%) and JP Power (11%).
Pipavav Defence (-4.89%), Sesa Goa (-4.26%), Dabur India (-3.47%), TCS (-3.37%) and Infosys (-3.32%) were the major losers.