Immense volatility (India’s VIX, volatility index jumped 11.45% to close at 34.38) was witnessed as key benchmark indices hit record high today as Banking shares led the gains, with the sector's sub-index up 1.34 percent on hopes banks will show sturdier earnings when they start reporting their financial results later this week. Concerns about potential mark-to-market losses in their bond portfolios were also calmed after the central bank fully sold the 200 billion rupees ($3.31 billion) worth of debt on offer on Thursday without any devolvement. Sentiment also got a boost after the Supreme Court allowed resumption of mining in Goa, sending shares in miners such as Sesa Sterlite (SESA.NS) surging.
The market breadth, indicating the overall health of the market, was positive, in Nifty50 stocks the advances to declines stands at 28 advances to 22 declines.
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