The S&P BSE Sensex and NSE Nifty 50 indexes rose for third session in a row on Thursday led by gains in Reliance Industries, HDFC, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and Hindustan Unilever. The benchmarks staged a gap up opening and extended gains in noon deals on the back of broad-based buying interest led by banking and financial services shares. The Sensex rose as much as 609 points to hit an intraday high of 47,053.40 and Nifty 50 index touched an intraday high of 13,771.75.

The Sensex ended 529 points or 1.14 per cent higher at 46,973.54 and Nifty 50 index climbed 148 points or 1.09 per cent to close at 13,749.25.

Eight of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty Bank index’s nearly 2 per cent gain. Nifty Financial Services, Pharma and Private Bank indexes also rose over 1 per cent each.

On the other hand, IT, media and real estate shares witnessed selling pressure.

Mid- and small-cap shares ended on a mixed note as Nifty Midcap 100 index ended on a flat note while Nifty Smallcap 100 index rose nearly 1 per cent.

Shares in biscuit maker Mrs Bectors Food Specialities Ltd more than doubled in their market debut on Thursday, in a latest sign of strong investor appetite for the country’s food sector amid the COVID-19 pandemic.

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The initial public offering (IPO), which was nearly 200 times oversubscribed, comes days after Burger King India – a company to which Mrs Bectors sells buns – also enjoyed a strong stock market debut.

Tata Motors was top Nifty gainer, the stock rose 4 per cent to close at Rs 176 after the company maintained profitability guidance for its luxury car maker Jaguar Land Rover (JLR). Jaguar Land Rover has not seen any impact so far from issues at UK ports, its parent Tata Motors said on Thursday, even as many countries cut transport ties with Britain due to a fast-spreading new variant of the coronavirus.

Sun Pharma, Axis Bank, Reliance Industries, ONGC, Indian Oil, SBI LIfe, HDFC, Kotak Mahindra Bank, ICICI Bank and Bharti Airtel also rose between 2-3 per cent.

On the flipside, Infosys, Wipro, Nestle India, UPL, IndusInd Bank, Grasim Industries, Eicher Motors, Dr Reddy’s Labs, HCL Technologies and Bajaj Finserv were among the losers.

The overall market breadth was extremely positive as 1,677 shares ended higher while 1,271 closed lower on the BSE.

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