HDFC-HDFC Bank merger news drives movement as benchmarks go up over 1.5% intraday

The stocks markets were on fire on Monday driven by the news of a mega-merger between the largest Indian housing finance company HDFC Limited and the largest private lender HDFC Bank.

The BSE Sensex was up over 925 points or 1.56 per cent to 60201 around this time, while Nifty50 was up over 254 points or 1.45 per cent to 17927 levels.

Of 50 scrips on Nifty, 44 advanced, and 6 declined at around 12:45 PM.

Nifty Financial Service witnessed the biggest gain by over 3 per cent, followed by Nifty Bank up over 2.5 per cent intraday.

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