Sensex, Nifty Close Higher, Airline Stocks Take A Hit

Share markets pivotals extended rally for the third consecutive session. The BSE Sensex ended 216.51-points higher at 37,752.17 and the NSE Nifty50 rose 40.50-points at 11,341.70.

Sectorally, the Nifty Bank index gained 1.55%  higher with IndusInd Bank up 4.32%  and Yes Bank up 3.56%, as the top gainers, followed by  the Nifty PSU Bank index which also rose nearly 1.64% led by gains in Canara Bank and Jammu & Kashmir Bank. ON the other hand, Pharma and Metals were the biggest draggers in today’s trade.

IndusInd Bank, YesBank, Bajaj Finance, HDFC Bank and State Bank of India were the top gainers on the Nifty, on the flip side major losers include Bharti Airtel, Indian Oil Corp, Zee Entertainment and Sun Pharma.

Shares of airlines that run Boeing-737-MAX-8 aircraft declined after the govt grounded these aircraft following the fatal crash in Ethiopia. In reaction, Jet Airways Ltd fell 1.67% and SpiceJet Ltd dropped 2.09%, while InterGlobe Aviation (IndiGo) rose 2.9% at Rs1295.25 per share.

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