Updated February 27th, 2024 at 16:03 IST

Sensex rises over 300 points, Nifty settles near 22,200 led by TCS, Tata Motors

The markets started the day on a subdued note but staged a rebound in noon deals on the back of buying interest in information technology shares.

Reported by: Business Desk
Dalal Street | Image:PTI
Advertisement

The equity benchmarks ended higher on Tuesday after two sessions of subdued trading led by gains in Tata Consultancy Services, Tata Motors, Bharti Airtel, ICICI Bank, Larsen & Toubro and Sun Pharma. The Sensex rose as much as 371 points and Nifty 50 index touched an intraday high of 22,218.25.

The Sensex ended 305 points to close at 73,095 and Nifty 50 index advanced 76 points to settle at 22,198.

Advertisement

The markets started the day on a subdued note but staged a rebound in noon deals on the back of buying interest in information technology shares.

"The domestic market rebounded from yesterday’s loss amid volatility, despite weak global cues. The hopes for a ceasefire in the Israel-Hamas war and the drop in crude oil prices supported the sentiment. However, the mid & small caps underperformed. The market is looking ahead to key economic data, both domestic and global, with US inflation grabbing the most attention, as that will provide fresh signals on interest rate cuts," said Vinod Nair, head of research at Geojit Financial Services.

Advertisement

Nine of 13 sector gauges compiled by the National Stock Exchange ended higher led Nifty IT index's 0.7 per cent gain. Nifty Realty, Consumer Durables, Pharma, Metal and Auto indices also rose between 0.5-1 per cent.

On the other hand, financial services, PSU bank, oil & gas and media shares witnessed selling pressure.

Advertisement

Mid- and small-cap shares ended mixed as Nifty Midcap 100 index rose 0.12 per cent and Nifty Smallcap 100 index rose 0.28 per cent.

Tata Motors was top Nifty gainer, the stock rose 2.7 per cent to hit record high of Rs 963. TCS, Poer Grid, IndusInd Bank, Sun Pharma, Cipla, Eicher Motors, JSW Steel, Bharti Airtel and Tata Steel also rose between 1-2.5 per cent.

Advertisement

On the flipside, Hero MotoCorp, Bajaj Finance, State Bank of India, Bajaj Finserv, Divi's Labs, Adani Enterprises and UPL were among the losers.

The overall market breadth was negative as 2,201 shares ended lower while 1,536 ended higher on the BSE.
 

Advertisement

Published February 27th, 2024 at 16:02 IST