Sensex, Nifty Gain For Third Day Courtesy I.T., Metals
Closing Bell: Third Day Of Gains
Indian equity markets extended their gains to the third straight day, despite ending lower from the highest point of the day.
The S&P BSE Sensex ended 0.7% higher at 38,973. The index ended nearly 300 points lower than the day's high of 39,263.
The NSE Nifty 50 index managed to close above the mark of 11,500, ending 0.8% higher at 11,503 - 75 points below the day's high of 11,578.
Gains in today's session were led by I.T. and Metal stocks. The Nifty I.T. index ended 3.5% higher and was the top sectoral gainer. The index rose for the sixth straight day and closed at an all-time high.
TCS was the top gainer on the I.T. index ending at an all-time high with gains of 7.5% - the most in over six months. The stock was also the top gainer on the Nifty 50 index.
The other I.T. stock to end at an all-time high was Wipro - ending with gains of 7% - the most in three months.
Metal stocks were the other outperformers in today's session. The Nifty Metal index ended 2.5% higher in today's session, led by Tata Steel (up 5%), JSW Steel (up 3.2%) and Hindalco (up 3%).
The Nifty Pharma index too ended with gains of 1.7%, courtesy gains seen in Cadila Healthcare, Aurobindo and Sun Pharma.
Autos, PSU Banks and Media stocks were the underperformers in today's session with their respective indices ending flat but with a negative bias.
Broader markets too had a mixed session. The midcap index ended 0.1% lower while the Smallcap index ended with gains of 0.6%.
India Volatility Index ended 7.7% higher at 19.75.
1,047 stocks on the NSE ended with gains while 802 stocks posted losses.