Last hour buying helps Sensex end 186 pts higher, Nifty above 10200; midcaps surge

Last hour buying helps Sensex end 186 pts higher, Nifty above 10200; midcaps surge
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Mumbai, Oct 24: Benchmarks ended a volatile day on a positive note, with the Nifty ending above 10,200-mark. The Sensex ended 186 points higher.
Barring pharma, all the sectors ended in the green, with infrastructure and metals ending the day at high points. The Nifty Midcap index also ended a percent higher.
The day began on a strong note, but indices gave up gains through the afternoon and turned negative. However, last hour saw renewed buying on the back of a fall in crude oil prices. Brent crude touched USD 75 per barrel, thereby boosting sentiment on Indian markets.
At the close of market hours, the Sensex was up 186.73 points or 0.55% at 34033.96, while the Nifty shut 78.00 points or 0.77% higher at 10224.80. The market breadth was narrow as 1,345 shares advanced, against a decline of 1,203 shares, while 1,045 shares were unchanged.
Stocks in News
Shares of Bharti Airtel ended 9 percent higher ahead of Q2 results as well as Airtel Africa announcing that six leading global investors comprising Warburg Pincus, Temasek,Singtel, SoftBank Group International and others have agreed to invest USD 1.25 billion through a primary equity issuance in the company at a post money equity value of USD 4.4 billion, comapny said in release.
Cholamandalam Investment and Finance gained 6 percent after ICRA assigned A1+ rating to the Rs 7,500 crore (enhanced from Rs 6,000 crore) commercial paper.
Shares of aviation, oil marketing companies (OMCs) and paint companies soared as global crude oil prices saw a big fall.
Sasken Technologies slipped 14 percent after the company reported weak set of numbers for the quarter ended September 2018.
Gallantt Ispat added 3 percent after the company posted strong numbers for the quarter ended September 2018.
Shares of Va Tech Wabag gained 3 percent after the company won a major order in Qatar
Shares of Bayer CropScience slipped 9 percent after company reported weak numbers for the quarter ended September 2018 (Q2FY19).
Housing finance company Can Fin Homes shares rallied 13 percent after Elara Capital advised accumulating the stock as second quarter earnings met its expectations.
Zydus Wellness shares fell 4 percent after rallying 8 percent intraday after the company, jointly with its parent Cadila Healthcare, announced acquisition of Heinz India Private Limited for nearly Rs 4,600 crore.
Two-wheeler and three-wheeler maker Bajaj Auto’s second quarter (July-September) profit grew by 3.65 percent YoY on weak operating margin performance and higher tax cost, but revenue clocked double digit growth. The stock ended around 4 percent lower.
Global Markets
European stocks were higher as investors took cues from earnings as well as local macro data. Stoxx 600 was up around 0.5 percent during early morning deals.
Meanwhile, markets in Asia ended mixed amid volatile trade. The Shanghai composite gained 0.33 percent to close at 2,603.30 while the Shenzhen composite fell 0.23 percent at about 1,297.22.