Markets end higher on back of strong IT, energy stocks
Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.
Top gainers on the Sensex included Tata Steel, HDFC Bank, Ultratech Cement, PowerGrid, ONGC, Kotak bank and Axis Bank.
At 12.21 pm S&P BSE Sensex fell by 408.43 points at 27,856.88 and Nifty50 was at 8,132.65 down by 121.15 points.
Sensex and Nifty that were up 38,169.87 (+322.22) points and 11,361.40 (+90.19) points gave away their intra-day gains to slip into red terrain in mid-session but again regained upside momentum in line with key Asian markets.
The BSE Sensex traded at 39,917.74, higher by 78.49 points or 0.20 per cent from the previous close of 39,839.25 points.
The key Indian equity indices opened on a negative note on Monday tracking a similar trend in the Asian markets.
Profit-booking in recent gainers coupled with disappointing results from SBI also took a toll on trading sentiment, brokers said.
The 30-share index rose 184.98 points, or 0.49 per cent, to hit a new peak of 37,876.87. Market sentiment, however, turned cautious as the index pared gains trading 40.13 points, or 0.11 per cent higher at 37,732.02 at 0950 Hrs.
Both the S&P BSE Sensex and the NSE Nifty50 touched fresh record levels of 37,805.25 points and 11,427.65 respectively, during the morning session of trade.
According to analysts, banking and auto stocks witnessed healthy buying activity so far.
