Sensex extends gains to 2nd day, closes 491 points higher

Mumbai (Maharashtra) [India], October 17 (ANI): Extending the gains to the second consecutive session, the Indian stock market's benchmark Sensex surged 491 points on Monday led by strong buying support in banking and energy stocks.
The 30 stock S&P BSE Sensex closed 491.01 points or 0.85 per cent higher at 58,410.98 points against its previous session's close at 57,919.97 points.
Earlier, the Sensex started the day in the red at 57,752.50 points and slumped to a low of 57,639.80 points in the early morning session. The Sensex rose sharply in the late morning session. The buying interest was further strengthened in the afternoon session. The Sensex hit a high of 58,449.00 points in the intra-day.
This is the second consecutive session of strong rally in the market. The Sensex had gained 684.64 points or 1.20 per cent on Friday.
The broader Nifty 50 of the National Stock Exchange surged 126.10 points or 0.73 per cent to 17,311.80 points against its previous session's close at 17,185.70 points.
The Nifty started the day in the red at 17,144.80 points and slumped to a low of 17,098.55 points in the morning session. The Nifty rose to a high of 17,328.55 points in the intra-day.
The Nifty had rallied 171.35 points or 1.01 per cent on Friday.
There was strong buying support in banking and financial stocks. State Bank of India surged 3.20 per cent to Rs 543.90. ICICI Bank soared 1.78 per cent to close at Rs 885.60. Axis Bank jumped 1.75 per cent to Rs 814.35.
The index heavyweight Reliance Industries Limited jumped 1.64 per cent to close at Rs 2410.
Bajaj Finserv, Infosys, NTPC, Hindustan Unilever, Dr Reddy's Laboratories, IndusInd Bank and Maruti Suzuki were among the major Sensex gainers.
HDFC Bank closed 0.36 per cent higher at Rs 1446.35. Private sector lender HDFC Bank on Saturday said its consolidated net profit surged by 22.3 per cent to Rs 11,125 crore for July-September quarter of the current financial year led by strong growth in loan.
The bank's consolidated advances grew by 22.8 per cent from Rs 1,249,331 crore as on September 30, 2021 to Rs 1,533,945 crore as on September 30, 2022.
HDFC Bank's consolidated net profit for the half year ended September 30, 2022 was Rs 20,704 crore, up 21.7 per cent, over the half year ended September 30, 2021.
Only seven of the 30 scrips that are part of the benchmark Sensex closed in the red. L&T slumped 1.45 per cent to Rs 1883.80. HCL Technologies, Wipro, Tata Steel, Nestle India and Power Grid Corporation were among the major Sensex losers. (ANI)