Stock Market

Sensex up 400 pts, Nifty reclaims 8650; ONGC, Asian Paints down


Chillicious Bureau

2:20 pm Midcap index changes:

Private sector lender IDFC Bank will be included in the NSE’s Nifty Midcap 50 index from November 15.

Havells India, on the other hand, will move out of the index.

India Index Services & Products Ltd, which maintains Nifty indices, said in a statement that the changes would become effective from November 15, 2016.

Earlier this month, IDFC Bank was included for trading in the securities lending and borrowing segment.

Prior to that, the exchange had announced that it would launch futures and options (F&O) contracts in IDFC Bank, DCB from September 30.

There are currently over 200 securities available in the F&O segment for trade.

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2:00 pm Market Check

Benchmark indices rallied further in afternoon trade with the Sensex inching towards 28000 level, driven by HDFC (up 3.37 percent), ICICI Bank (up 4.04 percent) and ITC (up 2.18 percent).

The 30-share BSE Sensex was up 431.16 points or 1.57 percent at 27961.13 and the 50-share NSE Nifty gained 127.40 points or 1.50 percent at 8647.80.

The BSE Midcap and Smallcap indices rose over a percent on strong breadth. About 1832 shares advanced against 848 declining shares on the exchange.

HDFC Bank, Infosys, L&T and Reliance Industries and Axis Bank gained 1-2 percent whereas ONGC and Asian Paints were the only losers among Sensex 30 stocks.