Snapping its three-day losing streak, the Sensex ended higher by over 140 points on value-buying by domestic investors in IT, banking, FMCG and oil and gas stocks amid a firm trend in Asian bourses.

Domestic sentiment was also buoyed by a slide in crude oil prices. However, investors appeared cautious ahead of the February F&O expiry tomorrow and also in view of developments around the massive PNB fraud.

The BSE index closed higher by 141.27 points or 0.42 per cent at 33,844.86 and the NSE index ended up 37.05 points or 0.36 per cent at 10,397.45.

Among BSE sectoral indices, IT index gained the most by 2.2 per cent, followed by TECk 1.79 per cent, FMCG 0.75 per cent and oil & gas 0.42 per cent. On the other hand, metal index succumbed to heavy selling pressure and was down 1.27 per cent, followed by healthcare 1.2 per cent, realty 0.79 per cent and capital goods 0.58 per cent.

Top five Sensex gainers were TCS (+3.33%), ITC (+2.00%), ONGC (+1.66%), State Bank of India (+1.28%) and Infosys (+1.23%), while the major losers were Sun Pharma (-6.19%), IndusInd Bank (-1.93%), Tata Steel (-1.57%), Tata Motors (-1.23%) and Bajaj Auto (-0.97%).

Nasscom revenue guidance props up IT stocks : Click here to read more

The Nifty IT index ended up by 2.33 per cent with Tech Mahindra climbing 3.5 per cent and HCL Technologies rising 4.14 per cent.

“IT stocks and ITC have given stability to markets at this level... Markets could remain range-bound today,” said Madhumita Ghosh, head corporate solutions, Tasmac Global Education.

Revenue from software services exports will rise 7-9 per cent in constant currency terms in the fiscal year to March 2019, the National Association of Software and Services Companies forecast, as the industry continues to recover from what has been a tough year.

PNB shares ended up by 0.26 per cent. PNB shares have shed nearly 28 per cent in the past week after the lender unearthed fraudulent transactions worth $1.77 billion at a branch.

Pharma stocks also fell with the Nifty Pharma index down nearly 3 per cent. Sun Pharmaceutical Industries dropped as much as 8.6 per cent.

Shares of Coal India dropped as much as 1.7 per cent to Rs 305 as the government has decided to open the coal sector to private players .

Gitanjali Gems tanked 9.85 per cent, while Punjab National Bank fell as much as 0.81 per cent.

Early trade

The Sensex gained 207.77 points or 0.61 per cent, to 33,911.36. The gauge had lost 593.88 points in the previous three sessions. Nifty also reclaimed the 10,400-mark rising 65.70 points, or 0.63 per cent, to 10,426.10.

On a net basis, DIIs had bought shares worth Rs 1,437.24 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 850.35 crore yesterday, as per provisional data released by stock exchanges.

(With inputs from Agencies)

Related Topics