Sensex, Nifty Snap Nine-Day Losing Streak Led By Reliance Industries

The S&P BSE Sensex and NSE Nifty 50 Indexes snapped their nine-day losing streak led by gains in Reliance Industries, ITC, Larsen & Toubro, State Bank of India and ICICI Bank. Earlier in the day, Sensex and Nifty edged lower but late buying in energy, banking, oil & gas and telecom heavyweights lifted the benchmarks and Sensex rose as much as 617 points from day's lowest level to hit intraday high of 37,573 and the NSE Nifty 50 Index moved close to its psychological level of 11,300.

The Sensex rose 0.61 per cent or 228 points to close at 37,319 and the NSE Nifty 50 Index advanced 0.66 per cent or 74 points to shut shop at 11,222.

Seventeen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Telecom Index's 2.8 per cent gain. Healthcare, Energy, Industrials, Utilities, Capital Goods and Oil & Gas Indexes also rose between 1 and 1.7 per cent each.

On the flipside, S&P BSE Information Technology Index was top loser, down 1.2 per cent.

Mid- and small-cap shares also witnessed buying interest as the S&P BSE MidCap Index rose 0.6 per cent and the S&P BSE SmallCap Index advanced 0.3 per cent.

In the Nifty 50 basket of shares 34 ended higher while 16 closed lower.

Indiabulls Housing Finance was top Nifty gainer, the stock rose 6.5 per cent to close at Rs 702. Bharti Airtel, Sun Pharma, Vedanta, GAIL India, IndusInd Bank, State Bank of India, Reliance Industries, Eicher Motors and Tata Motors were also among the gainers.

On the other hand, Tech Mahindra, Bajaj Finance, Tata Consultancy Services, HCL Tech, Wipro, Bajaj Auto, Infosys and Asian Paints were among the laggards.

Among the individual shares, Vodafone Idea fell as much as 10 per cent to Rs. 13.05 after its loss widened to Rs. 4,882 crore from Rs. loss of Rs. 962.2 crore during the same quarter last year.

The overall market breadth was neutral as 1,219 shares ended lower while 1,288 closed higher on the BSE.