Sensex rises for 2nd day on gains in IT, consumer durable stocks
Mumbai: Stock markets extended gains for the second day on Thursday helped by buying in IT, consumer durables and commodity stocks amid a largely positive trend in global markets.
In a volatile trade, the 30-share index rose by 115.39 points or 0.15 per cent to settle at 76,520.38. The barometer started on a negative note dropping by 202 points to a low of 76,202.12. The index pared losses later and climbed 338.55 points or 0.44 per cent to hit a high of 76,743.54.
The broader NSE Nifty rose by 50 points or 0.22 per cent to end at 23,205.35.
From the Sensex pack, UltraTech Cement, Mahindra & Mahindra, Sun Pharmaceutical, Zomato, Tech Mahindra, Tata Steel, Tata Motors, Titan, ITC and Bajaj Finance were the major gainers.
In contrast, Kotak Mahindra Bank, HCL Technologies, PowerGrid, Reliance Industries, State Bank of India, Hindustan Unilever, IndusInd Bank, Nestle India and Axis Bank were among the laggards.
Meanwhile in-line Q3 results showcasing QoQ growth to the indices suggesting that Q4 will be much better, Nair said.
In broader markets, the BSE smallcap index rose 0.67 per cent and midcap gauge jumped 1.78 per cent.
Among BSE sectoral indices, Consumer Durables rose the most by 1.95 per cent, Commodities by 1.86 per cent, Focused IT by 1.79 per cent, Information Technology by 1.51 per cent, Services 1.42 per cent and Consumer Discretionary and Healthcare went up 1.28 per cent each.
On the other hand, Energy, Bankex and Oil & Gas were the only laggards.
Overall, the market breadth was positive as 2,119 stocks advanced while 1,842 declined and 106 remained unchanged on the BSE. The market capitalisation of BSE-listed companies rose by Rs 2,75,359.24 crore to Rs 4,24,63,686.80 crore or $4.91 trillion.
An overall positive trend was also seen throughout the broader market. Sectorally, IT remained the key gainer, led by a positive earnings outlook and optimistic sectoral view, Ranadive added.
On the stock-specific front, UltraTech Cement gained approximately 6 per cent during the latter part of the trading session, led by positive earnings.
The rupee declined 9 paise to settle at 86.44 against the US dollar on Thursday amid the strengthening American currency and continuous outflow of foreign funds.
Global oil benchmark Brent crude fell 0.34 per cent to $78.73 a barrel. FIIs offloaded equities worth Rs 4,026.25 crore on Wednesday, according to exchange data.
