Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak with the Sensex closing by 222 points at 51531, while Nifty gained 0.44 percent to 15173. Broader markets however underperformed in today's session with Nifty MId cap 100 up by just 0.15 percent towards the end of the session.
Both indices had closed the previous two sessions lower after six days of gains, their longest winning streak in a month that took them to new highs. Hindalco, Reliance, Sun Pharma, GAIL and Bharti Airtel were among the top gainers today, while losers included NTPC, Eicher Motors, Titan, Larsen and Toubro and Tata Motors.
Shares of Reliance Industries rallied over 3.7percent to hit day's high of Rs. 2048.7 apiece on the NSE. probably the spike in share price of the conglomerate comes on the back of HC lifting stay order on Future deal.
Sectorally, there was seen weakness in the bank, auto, financial services, media, PSU Bank and realty space, with losses of over 1 percent on Nifty PSU Bank. This is even as Moody's iterated that bad loans shall not worsen sharply for PSBs amid economic resilience.
Among the sectoral indices, the Nifty Metal index was the top performer, ending with gains of 1percent. The Nifty FMCG index rose 0.8percent higher while the Nifty IT index climbed 0.6 percent. The Nifty PSU Bank index was the biggest laggard, ending 1.25percent lower.
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