Sensex ends 238 points higher, Nifty above 11,650; Yes Bank, Wipro surge 4% each

The S&P BSE Sensex ended the day at 38,939, up 238 points, while the broader NSE Nifty50 settled at 11,677, adding 73 points. The Nifty Midcap reversed losses to end the day up 0.2 percent, while the Nifty Smallcap index was also flat.

Yes Bank, Wipro, Tata Motors, Coal India, and ICICI Bank, were top gainers on Nifty, while Indiabulls Housing, Asian Paints, Bharti Airtel, Infosys and Dr Reddy's fell the most.

All sectoral indices except the Nifty Media were positive for the day. The Nifty PSU Bank rose the most followed by Nifty Realty, the Nifty Auto and banking indices.

The Nifty PSU Bank rose over 1.5 percent led by gains in Canara Bank, Bank of India, Union Bank of India and Syndicate Bank, up in the range of 2-5 percent.

IT stocks were also up for the day. HCL Technologies rose nearly 2 percent after Nomura said strong deal wins could propel growth for FY20. Wipro climbed up 4 percent.

Yes Bank gained over 4 percent after the private lender said it is mulling to raise funds via equity.

Shares of state-run telecom equipment manufacturer ITI rose over 5 percent after reporting a 20 percent increase in FY19 turnover.

Asian Paints fell 3 percent after CLSA Research downgraded the stock to ‘sell’ from ‘outperform’ citing near-term concerns on demand against a high expectation from the stock.