Sensex rises 246 pts, Nifty holds 20,050 in broad rally; PSB index zooms 4%

Stock market highlights: After a day's hiatus, benchmark indices were back in the positive zone as better-than-expected retail inflation data for August boosted sentiment. The S&P BSE Sensex gained 246 points, or 0.37 per cent, to end at 67,467 levels, while the Nifty50 shut shop at 20,070, up 77 points or 0.38 per cent. 

The gains were led by Bharti Airtel (up 2.7 per cent), Titan, Axis Bank, SBI, IndusInd Bank, Power Grid, NTPC, Tata Motors, Ultratech Cement, and Bajaj Finance.

The broader markets, too, rebounded today after falling up to 4 per cent on Tuesday. The BSE MidCa and SmallCap indices gained 0.2 per cent and 0.85 per cent, respectively.

Amonh sectors, the Nifty PSU Bank index claimed fresh all-time high of 4,939.85 in intraday trade, before closing 4 per cent higher. All other indices, except the IT and Auto pack, gained up to 1.5 per cent. 

IPO Update :: RR Kabel

The initial public offer of RR Kabel, the consumer electrical products company, was off to a slow start. It was subscribed 17 per cent till 3:30 PM on day one of the offer. The employees quota was booked 45 per cent, followed by retail quota at 28 per cent.