The Bombay Stock Exchange index Sensex today gained 44 points to 18,420.11 as easing crude prices reduced concerns over inflation and investors bought IT and healthcare blue chips available at existing lower levels.
The Sensex, which had lost 232 points in the previous two trading sessions, rose 43.63 points after moving in a range of 18,258.42 and 18,458.63 during intra-day trading.
Similarly, the broad-based National Stock Exchange index Nifty rose 15.3 points to 5,532.05. It had touched the day’s low of 5,479.85.
Brokers said buying activity picked up in the second half of the trading as stocks dipped to an attractive low level amid reports that a fall in crude prices would lower the risk of a higher inflation.
They said Information Technology and Healthcare stocks, which had suffered losses in the last two trading sessions, benefited from the buying.
The IT sector index gained the most by rising 0.81 per cent to 6,052.49. Infosys Technologies, the Sensex second most valuable scrip, led the upsurge, rising by Rs 24.95 to Rs 2,838.45 followed by TCS, which climbed Rs 11.60 to Rs 1,164.75.
Healthcare sector index was the next best performer, rising by 0.71 per cent to 6,351.76 as Dr Reddy’s Labs jumped by Rs 26.25 to Rs 1,604.60 and Sun Pharma by Rs 9.70 to Rs 477.90.
However, a weakening trend in the Asian region and lower opening in Europe capped the gains to some extent.
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