The Indian stock market's benchmark indices, Sensex and Nifty, rallied for the sixth straight session on Wednesday led by strong buying support in IT stocks.
The 30 stock S&P BSE Sensex jumped 214.17 points or 0.37 per cent to 58,350.53 points against its previous day's close at 58,136.36 points.
The Sensex witnessed volatile trading during the day. It started the day in the positive at 58,174.11 points but soon slipped into the red. It touched a low of 57,788.78 points in the intra-day. The markets witnessed strong buying support in the last hour of the trade. The Sensex surged to a high of 58,415.63 points in the intra-day.
The Sensex has closed in the positive for the sixth consecutive session. The index had closed 20.86 points or 0.04 per cent higher on Tuesday.
The broader Nifty 50 of the National Stock Exchange jumped 42.70 points or 0.25 per cent to close at 17,388.15 points. The Nifty has closed in the positive for the sixth straight trading session. The index had gained 5.40 points or 0.03 per cent on Tuesday.
There was strong buying support in IT stocks.
Tech Mahindra surged 1.97 per cent to Rs 1052.85. The country's largest IT firm Tata Consultancy Services soared 1.51 per cent to Rs 3339.60. Infosys jumped 1.44 per cent to Rs 1565.15. HCL Technologies closed 0.63 per cent higher at Rs 956.95. Wipro rose 0.61 per cent to Rs 432.15.
The index heavyweight Reliance Industries Limited surged 0.88 per cent to Rs 2605.80.
Titan, Asian Paints, ICICI Bank, Bharti Airtel, HDFC, Power Grid Corporation, HDFC Bank and Dr Reddy's Laboratories were among the major Sensex gainers.
Auto firms witnessed selling pressure after the recent rally. Maruti Suzuki slumped 2.29 per cent to Rs 8956.70. Mahindra & Mahindra closed 0.12 per cent lower at Rs 1253.70. Sun Pharma slipped 2.17 per cent to Rs 896.90.
Kotak Bank, IndusInd Bank, Bajaj Finance, ITC, UltraTech Cement, Hindustan Unilever and Nestle India were among the major Sensex losers.
( With inputs from ANI )
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