Employees monitor stocks at a brokerage firm in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Snap 2-Day Losing Streak On Strong European Trade

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Market Wrap

Closing Bell

Indian shares halted a two-day loss making streak as investors took solace in the resilience shown by European equities after the failure of Italy’s referendum on constitutional reform.

The S&P BSE Sensex gained 0.4 percent to 26,349 while the NSE Nifty advanced 0.5 percent to 8,128. The market breadth skewed in favour of the buyers at 921 advances, 677 declines and 292 stocks remaining unchanged.

 Sensex, Nifty Snap 2-Day Losing Streak On Strong European Trade

Markets At 2:30 P.M.

Markets rallied to their highest point of the day, with the NSE Nifty 50 index hitting an intraday high of 8,141 led by a continued surge in auto makers as well as a resilient performance from European indices despite the Italy referendum.

Italian Shares Drag In An Otherwise Upbeat European Trade

 Sensex, Nifty Snap 2-Day Losing Streak On Strong European Trade

BQSpotted

South-based Sun TV, owned by Kalanithi Maran, the grandnephew of DMK leader M Karunanidhi, jumped as much as 7.4 percent to Rs 469.

Shares of Raj Television Network, another Tamil television and broadcasting company in the southern region, jumped 19.4 percent in opening trades. However, it pared over half of its gains.

 Sensex, Nifty Snap 2-Day Losing Streak On Strong European Trade