Indian equities ended higher in another session that saw benchmark indices swing between gains and losses. This is the second instance of the benchmark indices ending higher over the last seven trading sessions.
The S&P BSE Sensex ended 0.56% higher at 50,051 while the NSE Nifty 50 index ended 0.53% higher at 14,814.
Banking stocks were the outperformers in today's session. The PSU Bank index rose to emerge as the top sectoral gainer, with gains of 3%. The Nifty Bank index also rose nearly 600 points or 1.7%. Sentiment for banking stocks received a boost after the Supreme Court lifted the stay granted on classification of Non-performing Assets (NPAs) by banks.
Cement stocks were the other outperformers in today's session with Shree Cement and UltraTech ending as the top two gainers on the Nifty 50 index.
Among other sectoral indices, the Metal index was the top sectoral laggard, ending 0.7% lower while the FMCG index fell 0.4%. Nifty Auto and Nifty Pharma indices ended the session with gains of 0.5% each.
Broader markets had a mixed session with the midcaps outperforming. The Nifty Midcap index ended 0.9% higher while the Smallcap index rose 0.4% at the close of trade.
The India Volatility Index cooled off from the day's high to end 0.84% higher at 20.67.
1,115 stocks on the NSE ended the day with gains while 776 stocks posted losses.