Sensex up 481 points as bulls hold fort; Bank, IT stocks among top gainers

Last Updated: Tue, Oct 18, 2016 15:16 hrs

With the bulls staying aggressive and lapping up stocks almost across the board, the market is well on course to end on a buoyant note today.

Positive cues from Asian and European markets and expectations of GST roll-out from next financial year appear to be triggering hectic buying today.

The Sensex is up 480.74 points or 1.75% at 28,010.71, slightly off the day's high of 28,031.34. The Nifty50 is at 8665.50, up 145.10 points or 1.7% from its previous close.

Bank, IT, metal and realty stocks are among the top gainers. Several stocks from automobile, consumer durables, power and FMCG stocks are also up with strong gains.

Adani Ports is gaining 5.5%. ICICI Bank is moving up by about 4.5%. HDFC, Tata Steel, Larsen & Toubro, ITC, Axis Bank and Lupin are up 2% - 3.7%. Wipro, Reliance Industries, Bajaj Auto, HDFC Bank, Infosys, State Bank of India, Mahindra & Mahindra, Bharti Airtel, Tata Motors, Cipla and Sun Pharmaceutical Industries are up 1% - 2%.

Tech Mahindra is gaining 5.2%. BHEL, Bank of Baroda, Yes Bank, HCL Technologies, Aurobindo Pharma, Zee Entertainment Enterprises, Ambuja Cements, Bosch, Eicher Motors, Tata Power, Hindalco and Grasim Industries are up 1% - 4%.

Gujarat Pipavav Port is down sharply following a rating downgrade of the stock by a foreign brokerage.

Shares of logistics companies continue to trade higher with investors indulging in some brisk buying in that space amid hopes the GST Council meeting that is underway, will spell out GST Rates by Thursday.

More from Sify: