Nifty Snaps Three-Day Losing Streak Led By Banks

The domestic benchmark indexes ended higher in today's session with the NSE Nifty 50 index snapping its three-day losing spree led by gains in banking, information technology and FMCG heavyweights like HDFC Bank, State Bank of India, IndusInd Bank, Infosys, HDFC and ITC. Sensex and Nifty opened higher and extended gains later in the day. Intraday deals, the Sensex rose as much 335 points and Nifty 50 index touched high of 11,599.

The Sensex ended 266 points or 0.69 per cent higher at 38,823 and the NSE Nifty 50 Index climbed 84 points or 0.73 per cent to close at 11,583.

All the 11 sector gauges compiled by National stock Exchange ended higher led by the Nifty Media Index's 3.87 per cent gain.

Metal, PSU Bank, Auto and Pharma sector gauges also rose over 1 per cent each.

Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 Index rose 0.73 per cent and the Nifty Smallcap 100 Index advanced 0.33 per cent.

Zee Entertainment was top gainer in the Nifty 50 basket of shares, the stock rose 7.59 per cent to Rs 358. JSW Steel, Hero MotoCorp, IndusInd Bank, Tata Motors, Hindalco, Vedanta, State Bank of India, Dr. Reddy's Labs, Mahindra & Mahindra and Bharti Infratel were also among the gainers.

On the flipside, Tech Mahindra, Indian Oil, UPL, Axis Bank, Larsen & Toubro, TCS. Titan and Britannia Industries were among the losers.