Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Market Highlights:

• IIFL Wealth soars 13 per cent after highest ever quarter profit
• SBI rises 2 per cent after record quarterly profits in Q1
• India VIX, a barometer of volatility, falls about 4 per cent
• IPO watch: Windlas Biotech subscribed 2.7x; Exxaro Tiles 3.72x; Krsnaa Diagnostics 1.71x and Devyani International 2.38x

Among the blue-chip names, HDFC was the top gainer for another day, rising 4.59 per cent. Kotak Mahindra Bank, ICICI Bank, SBI, HDFC Bank, Axis Bank, Cipla, Dr Reddy’s Labs, and Reliance Industries were other gainers.

Grasim was the top loser in the Nifty pack, falling 2.47 per cent. Titan, Tata Motors, Adani Ports, Hindalco, BPCL, Nestle India, Sun Pharma, UltraTech Cements, and Tata Consumer were others that ended in the red.

Broader market indices ended lower underperforming their headline peers. Nifty Smallcap fell 1.01 per cent and Nifty Midcap declined 1.19 per cent. Nifty 500, the broadest index on NSE, ended up 0.22 per cent.

Godrej Industries, AU Small Finance Bank, M&M Financial Services, PNB Housing, Trident and Rain Industries were top gainers from mid and smallcap indices, climbing in the range of 3-5 per cent.

Birla Corporation, Kaveri Seeds, Balrampur Chini Mills, PI Industries, Indiabulls Housing Finance, Dhani Services, were major losers from broader market space, falling in the range of 4-6 per cent.

Sectoral matrix was mixed on NSE. Nifty Financial Service climbed 2.59 per cent, followed by Nifty Bank that added 2.33 per cent. Nifty Realty was the top loser, down 1.67 per cent, followed by Nifty Media.

Market breadth was in favour of losers as 1,137 stocks ended in the green, while 2,119 names settled with cuts. As many as 467 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 16 names hit 52-week lows, mostly from the microcap space. About 345 stocks hit upper circuit limits and 330 lower circuit limits.