Sensex Closes 185 Points Higher As Markets Extend Gains To Second Straight Day

Losses in banking and financial services stocks offset gains in IT, metal and energy shares.

Sensex Closes 185 Points Higher As Markets Extend Gains To Second Straight Day

Domestic stock markets ended a volatile session on Wednesday mildly higher, tracking broader gains in Asian equities. The S&P BSE Sensex index jumped 241.04 points - or 0.62 per cent - to touch 39,121.83 at the strongest level in late afternoon deals, having slumped to as low as 38,736.22 earlier during the session. The broader NSE Nifty 50 benchmark moved within a range, between 11,430.40 and 11,554.75, as against its previous close of 11,470.25. Gains in IT, metal and energy shares pushed the markets higher, however losses in banking and financial services shares limited the upside.

The Sensex ended 185.23 points - or 0.48 per cent - higher at 39,086.03, and the Nifty settled at 11,535.00, up 64.75 points - or 0.56 per cent - from its previous close.

Zee Entertainment, Mahindra & Mahindra, Tata Motors, Bharti Infratel and Adani Ports, ending between 3.25 per cent and 7.46 per cent higher, were the top gainers in the 50-scrip Nifty basket.

On the other hand, Bajaj Auto, Hero MotoCorp, Asian Paints, HDFC and Nestle, closing between 1.25 per cent and 2.38 per cent lower, were among the Nifty losers.

Newsbeep

Reliance Industries, Infosys and Mahindra & Mahindra were the top boosts to Sensex.

Official data this week showed the country's gross domestic product contracted 23.9 per cent in the June quarter, its worst contraction on record.