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Benchmarks firm up gains amid intense buying in IT

Benchmarks firm up gains amid intense buying in IT
X

Mumbai: Equity gauges Sensex and Nifty firmed up gains on Wednesday as a result of intense buying mainly in IT shares amid expectations of robust quarterly earnings and favourable economic data.

At close, the BSE Sensex quoted 134.32 points or 0.25 per cent higher at 52,904.05 recovering from its early losses to mark its second straight session of gains.

Likewise, the broader NSE Nifty advanced 41.60 points or 0.26 per cent to end at 15,853.95 the third straight session of gains for the index.

On the Sensex chart, top three performers were IT firms, with Tech Mahindra gaining the most by rising 2.69 per cent, followed by HCL Tech and Infosys. Other notable winners were L&T, Tata Steel, ITC and TCS.

On the other hand, Maruti, HUL, Nestle India, Dr Reddy's and Reliance were among the laggards.

Post market hours, IT major Infosys announced its quarterly results. It posted a 22.7 per cent rise in net profit to Rs 5,195 crore for the April-June quarter of 2021-22, and raised its revenue growth outlook for the full fiscal.

Sectorally, BSE IT, teck, capital goods, healthcare, and metal indices ended up to 2.25 per cent higher, while realty, oil and gas, energy and auto indices closed in the red.

Broader midcap and smallcap indices underperformed the benchmark, rising up to 0.24 per cent.

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