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Nifty, Sensex gain for third straight day as financials surge

File photo. Photograph:( Reuters )

Reuters Bengaluru Jul 17, 2019, 04.08 PM (IST)

Indian shares closed higher for the third straight day on Wednesday, boosted by gains in financial stocks, with top lender State Bank of India (SBI) clocking a record closing high.

Twenty-eight of the 50 stocks on the broader NSE Nifty fell, but gains in large cap stocks helped the bourse close up 0.21% at 11,687.5. The benchmark BSE Sensex settled 0.22% higher at 39,215.64.

Property finance firm Indiabulls Housing Finance Ltd topped the gains on the NSE Nifty, closing 3.4% higher. Troubled peer Dewan Housing Finance Corporation Ltd ended up 11.2%.

SBI, India`s largest lender by assets, climbed 2.2%, driving the Nifty PSU Bank index 1.1% higher.

Yes Bank Ltd slumped 5.3% ahead of its quarterly results and was the biggest loser on the indexes, while automaker Eicher Motors Ltd dropped 3.2%. 

Story highlights

Indian shares closed higher for the third straight day on Wednesday, boosted by gains in financial stocks, with top lender State Bank of India (SBI) clocking a record closing high