The stock market surged for the second day in a row on September 28. The Sensex was up 592 points and the Nifty was up 177 points. The Sensex has gained over 1,400 points in two days.
The Sensex ended at 37,981 points. It rose to 38,035 points during trading but could not close above 38,000. The trade started with a good gain in the morning. The rise in the US market was also reflected in the Indian market.
The Nifty closed above 11,200 on the day. The Nifty, which rose to 11,234 points, closed at 11,227. The Nifty, which dipped below 11,800 last week, rose 450 points from there.
Most of the 50 stocks in the Nifty were gainers on the day. Of the 46 stocks that gained, only four lost. IndusInd Bank, Bajaj Finance, Axis Bank, ONGC and Tata Motors were the top gainers. IndusInd Bank gained 8 per cent. Shares of Bajaj Finance, Axis Bank, ONGC, Tata Motors, Powergrid, Adani Ports and Sun Pharma gained over 4 per cent
Wipro, Hindustan Unilever, Nestle India and Infosys were the only four Nifty stocks to lose ground. These stocks recorded a loss of less than one per cent.
Banks, auto, IT and metal stocks were the top gainers on the day. The Nifty Bank Index was up 3.26 per cent, the Nifty Auto Index was up 3.04 per cent and the Nifty Metal Index was up 2.96 per cent. Banking stocks such as IndusInd Bank, Bandan Bank, Federal Bank, Axis Bank and RBL Bank rose between 5 per cent and 8 per cent. Automobile shares of Balakrishna Industries and TVS Motors gained over 6 per cent.
