BSE Sensex closed 1,335.05 points or 2.25% higher at 60,611.74; NSE Nifty was up 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 was up 382.95 points, or 2.17%, to end at 18,053.40
Stock benchmark Sensex rose by over 1,300 points on April 4, returning to the 60,000 mark, spurred by intense buying in banking and financial stocks following the announcement of the merger between HDFC and HDFC Bank.
Strong global signals and falling crude oil prices also supported domestic stock markets, according to traders.
Shares of HDFC and HDFC Bank surged nearly 10% as investors approved the merger deal.
In the largest merger in company history, India’s largest housing financier HDFC Ltd. to merge with the country’s largest private lender, HDFC Bank, to create a banking giant.
The 30-stock BSE Index closed 1,335.05 points, or 2.25% higher, at 60,611.74. Likewise, the NSE Nifty rose 382.95 points, or 2.17%, to end at 18,053.40.
HDFC Bank’s scrip rose 9.97% to £1,656.45, while HDFC Ltd. up 9.30% to £2,678.90.
Other winners in the Sensex package included Kotak Bank, HUL, L&T, IndusInd Bank and Sun Pharma.
On the other hand, Titan and Infosys were the laggards.
Elsewhere in Asia, stock exchanges in Tokyo, Seoul, Hong Kong and Shanghai ended with healthy gains.
Stock exchanges in Europe also traded significantly higher on mid-session deals.
Meanwhile, international oil benchmark Brent crude fell 1.05% to $103.29 a barrel.
Foreign institutional investors (FIIs) were net buyers in the capital markets as they bought ₹1,909.78 crore of shares, according to stock market data on Friday.
