Nifty Bank outperforms Sensex, up 300 pts; capital goods stocks rally

Equity benchmarks remained strong in afternoon, with the Nifty holding 10,000 level following strong global cues.

The 30-share BSE Sensex was up 228.91 points at 31,916.43 and the 50-share NSE Nifty gained 88.60 points at 10,023.40.

All sectoral indices barring PSU Bank gained. Nifty Bank gained the most, up 1.3 percent or 312 points on support from private banks. State Bank of India was only loser among PSU Banks, down 0.7 percent.

The broader markets rallied nearly a percent as about three shares advanced for every two shares falling on the BSE.

Capital goods stocks gained momentum as L&T added 3 percent on top of 4 percent rally in previous trading session. BHEL was also up 2.5 percent.

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Posted in: Indian Market Tips