Midday Market Update: Sensex, Nifty Up Aided By IT, Realty, Consumer Durables
Sensex and Nifty extended gains, trading near the day's high, led by a surge in IT, realty and consumer durable stocks.
India's stock benchmarks extended gains to trade near day's high, led by a surge in information technology, realty, and consumer durable stocks.
The 30-stock Sensex gained over 430 points or 0.7% to 60,224.82 on the BSE. The Nifty 50 gained a similar magnitude to 17,960 on the NSE. Among Nifty 50 constituents, 40 stocks rose while 9 fell. One remained unchanged.
Adani Ports and Special Economic Zone Ltd., Tech Mahindra Ltd., Infosys Ltd., Axis Bank Ltd., Titan Ltd. were the top gainers. While, Coal India Ltd., Shree Cement Ltd., HDFC Ltd., IndusInd Bank Ltd., and Dr. Reddy’s Laboratories Ltd. were the top losers.
The broader indices outperformed larger peers with mid cap gauge gaining 0.9% and small cap measure jumping 1%. All of the 19 sectoral indices compiled by BSE Ltd. advanced with I.T. index gaining 1.6%.
The market breadth is skewed in the favour of bulls. About 2,215 stocks rose, 1,208 fell and 195 remained unchanged.