Sensex Hits 52-Week High, Nifty Gains As HDFC Twins, IT Stocks Aid: Midday Market Update
The Sensex advanced 1.86% to 61,743.51 and Nifty 50 gained 1.72% to 18,337.75
India's stock benchmarks advanced, aided by gains across IT, metals and banking stocks.
The Sensex advanced 1.86% to 61,743.51, after hitting a 52-week high of 61,754.96 earlier in the day. The Nifty 50 gained 1.72% to 18,337.75, just whiskers away from its 52-week high. Among Nifty 50 constituents, 38 stocks rose and 12 declined.
HDFC Bank Ltd., Housing Development Finance Corporation Ltd., Infosys Ltd., HDFC Life Insurance Co. and HCL Technologies Ltd. were the top gainers on Nifty 50.
While Eicher Motors Ltd., Hero MotoCorp Ltd., Britannia Industries Ltd., NTPC Ltd. and Dr Reddy's Laboratories Ltd. were the top laggards
The broader indices underperformed their larger peers with the mid cap and the small cap gaining over 0.43% and 0.52%, respectively. While the large-cap index almost mirrored its large peers gaining 1.63%.
Eighteen of the 20 sectoral measures complied by BSE Ltd. advanced, with BSE information & technology gaining over 3%.
The market breadth is skewed in favour of the bulls. About 1,946 stocks rose, 1,413 fell and 132 remained unchanged.