BSE Sensex closed 1,335.05 points or 2.25% higher at 60,611.74; NSE Nifty jumped 382.95 points or 2.17% to end at 18,053.40
BSE Sensex closed 1,335.05 points or 2.25% higher at 60,611.74; NSE Nifty jumped 382.95 points or 2.17% to end at 18,053.40
Equity benchmark Sensex rose over 1,300 points on April 4 to reclaim the 60,000 level, following intense buying in banking and financial stocks. Announcement of merger of HDFC and HDFC Bank,
According to traders, strong global cues and fall in crude oil prices also supported the domestic equity markets.
Shares of HDFC and HDFC Bank rose nearly 10% as investors struck a merger deal.
In the biggest merger in corporate history, India’s largest housing finance company HDFC Ltd will merge with country’s largest private lender HDFC Bank to form a banking giant.
The 30-share BSE index ended 1,335.05 points or 2.25% higher at 60,611.74. Similarly, the NSE Nifty jumped 382.95 points or 2.17% to end at 18,053.40.
Shares of HDFC Bank rose 9.97% to ₹1,656.45, while HDFC Ltd jumped 9.30% to ₹2,678.90.
Other gainers in the Sensex pack included Kotak Bank, HUL, L&T, IndusInd Bank and Sun Pharma.
On the other hand, Titan and Infosys lagged behind.
Elsewhere in Asia, shares closed with gains in Tokyo, Seoul, Hong Kong and Shanghai.
Stock exchanges in Europe were also trading significantly higher in mid-session deals.
Meanwhile, international oil benchmark Brent crude declined 1.05% to $103.29 a barrel.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth ₹1,909.78 crore on Friday, according to exchange data.