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Nifty Resumes Upmove After A Day’s Breather Led By IT, Banking Shares

The S&P BSE Sensex and NSE Nifty 50 indexes rebounded sharply after closing lower in the previous session led by gains in banking and information technology shares. The benchmarks opened higher but for most part of the day flip-flopped between gains and losses. The S&P BSE Sensex index switched direction at least 15 times before surging to intraday highs in the last hour of trade paced by gains in banking heavyweights. With today’s session of gains, the broader Nifty 50 index resumed its seven-day rally after a day’s breather in the previous session.

The Sensex ended 281 points or 0.76 per cent higher at 37,385 and the Nifty 50 index climbed points or 0.85 per cent to close at 11,076.

All sector gauges barring the Nifty Pharma index ended higher led by the Nifty Realty index’s 1.5 per cent gain. Nifty Private Bank, Nifty Bank, Nifty Auto, Metal, Nifty Financial Service, Nifty IT and Nifty Media sector gauges also rose between 0.75-1.4 per cent each.

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Source: NDTV Profit