After a relatively steady start, the domestic benchmark indices pared gains and slipped into the red, only to bounce back stronger, led by IT and private banking shares gains. The BSE Sensex after opening higher at 76,114, pared gains and slipped into red to a low of 75,817. The Sensex eventually surged to the day’s high of 76,461 and settled with a gain of 567 points at 76,405.
BIZ DESK
The 30-share index at Bombay Stock Exchange, Sensex, surged 567 points, or 0.75 percent, to close at 76,405. Similarly, the National Stock Exchange Nifty-50 added 131 points, or 0.57 percent, to settle at 23,155. Conversely, the broader market indices at BSE ended in negative territory. The Mid-Cap index dropped 1.2 percent and the Small-Cap index declined over one and half percent. In the Sensex index, 21 out of 30 companies logged gains. Among the top gainers, Infosys surged over 3.1 percent, TCS gained almost three percent, and Tech Mahindra added over 2.2 percent. Meanwhile, in the top laggards, Tata Motors shed over 2.2 percent, PowerGrid lost over 1.2 percent, and Axis Bank dropped around one percent. In Sectoral Indices at the BSE, 15 out of 21 sectors ended in positive territory. Among top gainers, Focused IT advanced over 2.1 percent, Information Technology gained more than 1.8 percent, and Teck added over 1.6 percent. Conversely, in the top laggards, Realty plunged over four and half percent, Industrials as well as Capital Goods, both dropped more than 1.8 percent each, and Power fell over one and half percent. The overall market breadth at the BSE was negative as shares of 2,802 companies declined and 1,142 advanced while 115 remain unchanged. At the National Stock Exchange, 14 companies hit their 52 week high while 155 hit their 52 week low.