Stock Market Highlights: Nifty, Sensex Snap Two-Session Slump As Financials, Oil & Gas Rally
Reliance Industries, ICICI Bank and Larsen & Toubro led the gains in the Nifty.
The benchmark equity indices reversed two sessions of decline to close higher on Tuesday, helped by a broad-based rally led by oil and gas, and financials.
The NSE Nifty 50 ended 91.85 points or 0.39% higher at 23,707.9, and the BSE Sensex advanced 234.12 points or 0.3% to close at 78,199.11. During the session, the Nifty rose as much as 0.76% to the day's high of 23,795.20. The Sensex climbed 0.63% to an intraday high of 78,452.74.
Information technology stocks, led by HCL Technologies Ltd. and Tata Consultancy Services Ltd., faced heat ahead of quarterly results. The top gainers were Oil & Natural Gas Corp. and SBI Life Insurance Co.
Reliance Industries Ltd., ICICI Bank Ltd. and Larsen & Toubro Ltd. led the gains in the Nifty in terms of points contribution.
Tata Consultancy Services Ltd., HCL Technologies Ltd., Trent Ltd., Infosys Ltd. and ITC Ltd. weighed on the index the most.
On the BSE, 29 sectors advanced and two declined out of 31. The BSE Energy advanced the most, while the BSE Focused IT declined the most.
Ten out of the 12 sectors on the NSE ended higher, with the Nifty Oil & Gas advancing the most and the Nifty IT falling the most.
The broader markets outperformed the benchmark indices as the BSE MidCap and SmallCap ended 0.77% and 1.74% higher respectively.
The market breadth was skewed in favour of the buyers as 2,622 stocks advanced, 1,361 declined and 103 remained unchanged on the BSE.
