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Sensex Reverses Early Losses, Climbs 437 Points, Nifty Settles Above 16,600; RIL, TCS Among Top Gainers- Newshubweek

Sensex Reverses Early Losses, Climbs 437 Points, Nifty Settles Above 16,600; RIL, TCS Among Top Gainers- Newshubweek
Written by Arindam

Sensex Reverses Early Losses, Climbs 437 Points, Nifty Settles Above 16,600; RIL, TCS Among Top Gainers

Sensex and Nifty settled higher in a volatile session today.

New Delhi:

Indian equity benchmarks on Thursday recovered from early losses to settle higher, driven by gains in technology and energy stocks. The domestic indices snapped their 2-day losing run on strong buying interest in the index heavyweights Tata Consultancy Services (TCS) and Reliance Industries (RIL).

The 30-share BSE Sensex jumped 437 points or 0.79 per cent to close at 55,818, while the broader NSE Nifty moved 105 points or 0.64 per cent up to settle at 16,628.

Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 gained 0.68 per cent and small-cap surged 0.61 per cent.

10 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the green. Sub-indexes Nifty IT and Nifty Oil and Gas outperformed the platform by rising as much as 1.82 per cent and 2.28 per cent, respectively.

On the stock-specific front, Reliance Industries was the top Nifty gainer as the stock soared 3.60 per cent to Rs 2,728.30. Bajaj Finserv, Sun Pharma, TCS and HCL Tech were also among the gainers.

The overall market breadth stood positive as 1,976 shares advanced while 1,330 declined on BSE.

On the 30-share BSE index, RIL, Bajaj Finserv, Sun Pharma, HCL Tech, TCS, Infosys, Asian Paints, Tata Steel, IndusInd Bank, NTPC, Titan and Nestle India were among the top gainers.

In contrast, HDFC, PowerGrid, Hindustan Unilever, HDFC Bank, Kotak Mahindra Bank, Maruti, ICICI Bank, M&M, L&T and Tech Mahindra finished in the red.

Also, Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, fell 0.58 per cent to settle at Rs 805.85.

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Arindam

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