Markets extend gains on fag-end buying; Infosys, L&T shine
The Hindu
The NSE Nifty gained 30.45 points or 0.16% to end at 19,465.
Benchmark equity indices Sensex and Nifty pared early losses to close higher for a second straight session on Wednesday, supported by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets.
In a volatile trade, the 30-share BSE Sensex climbed 137.50 points or 0.21% to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56% to 65,032.89.
The NSE Nifty gained 30.45 points or 0.16% to end at 19,465.
“The initial apprehension stemming from an above-expected surge in domestic CPI inflation, driven by higher food prices, induced volatility in the Indian market.
“However, the market found some relief as the likelihood of this inflation-surge being transitory alleviated concerns, leading to a recovery in the latter part of the trading session,” said Vinod Nair, Head of Research at Geojit Financial Services.
UltraTech Cement was the biggest gainer in the Sensex pack, rising 2.43%, followed by NTPC, Tata Motors, Infosys, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Maruti, Wipro and SBI were the major gainers.
In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were among the laggards.
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