Sensex, Nifty End Higher For Second Straight Day Led By TCS, Infosys
The S&P BSE Sensex and NSE Nifty 50 Indexes rose for second straight session led by gains in Tata Consultancy Services, Infosys, ITC, Larsen & Toubro and Axis Bank. Earlier in the day, Sensex advanced as much as 364 points and the Nifty 50 Index touched intraday high of 11,975 but the benchmarks came off intraday highs in late morning trades as financial shares such as HDFC, HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Yes Bank came under selling pressure.
The Sensex ended 169 points or 0.43 per cent higher to close at 39,785 and the NSE Nifty 50 Index rose 0.44 per cent or 52 points to close at 11,923.
Fifteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Information Technology Index's 1.74 per cent gain. FMCG, Telecom, Capital Goods, Metal and Teck sector gauges also rose between 0.6 and 1.6 per cent each.
On the flipside, S&P BSE Oil & Gas Index was top loser, down 1.2 per cent.
Mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap Index rose 0.1 per cent while the S&P BSE SmallCap Index declined 0.5 per cent.
Britannia Industries was top gainer in the Nifty 50 basket of shares, the stock rose 3.47 per cent to Rs 3,000. Tech Mahindra, TCS, Dr. Reddy's Labs, Bharti Infratel, ITC, JSW Steel, Hindalco, HCL Technologies and Power Grid were also among the gainers.
On the other hand, Bharat Petroleum, Yes Bank, Coal India, GAIL, Indian Oil, Tata Motors, ONGC, Zee Entertainment, Hero MotoCorp and HDFC were among the laggards.
The overall market breadth was negative as 1,622 shares closed lower while 984 ended higher on the BSE.