Nifty, Sensex Close Higher For Second Day Led By Infosys, Airtel: Market Wrap
The NSE Nifty 50 closed 0.42% higher at 25,041.10, while the S&P BSE Sensex ended 0.44% higher at 81,921.29.
The benchmark indices extended their rally to close higher for the second session in a row on Tuesday, led by gains in the IT sector.
The NSE Nifty 50 closed 104.70 points, or 0.42% higher, at 25,041.10, while the S&P BSE Sensex ended higher by 361.75 points, or 0.44%, at 81,921.29.
The Nifty rose as much as 0.78% to 25,130.50, and the Sensex gained 0.78% to hit an intraday high of 82,196.55.
"The markets saw a one-way upmove after a knee-jerk reaction in the opening trade; however, towards the end of the trading session, the Nifty pared half of its gains to settle at 25,041.10 with gains of 104.70 points," said Aditya Gaggar, director of Progressive Share Brokers.
"As indicated yesterday, the index has tested the higher end of the resistance zone, i.e., 25,100; a firm close above the same is a must to confirm a trend continuation, while on the downside, a level of 24,850 will act as immediate support," he said.
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Shares of Bharti Airtel Ltd., Infosys Ltd., Tata Consultancy Services Ltd., and Axis Bank Ltd. led the gains on the Nifty.
Shares of HDFC Life Insurance Co., and Bajaj Finance Ltd. weighed on the index.
Most sectoral indices on the NSE advanced, with Nifty Media gaining the most.
On BSE, 18 sectors ended higher and two declined. The BSE Utilities ended with most gains, while the BSE Financial Services declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.53% and 1.53% higher, respectively.
Market breadth was skewed in favour of buyers. Around 2,594 stocks rose, 1,343 stocks declined, and 105 stocks remained unchanged on BSE.
