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Sensex Trades on a Firm Note, Nifty Stays Above 8,400

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Sensex Trades on a Firm Note, Nifty Stays Above 8,400
The Sensex was trading firmly 200 points higher in the noon deals on Wednesday supported by gains in IT and banking stocks.

The Nifty was trading above its crucial psychological level of 8,400 led by gain in TCS, State Bank of India and HDFC Bank.

The Sensex opened on a positive note in trades today after the data suggested that foreign institutional investors bought shares worth Rs 48.06 crore. 

Buying was visible in IT, banking and consumer durable stocks. While, auto and metal stocks were fell on account of profit-booking.

From the Nifty-50 basket of stocks, 35 were advancing while 15 were declining.

Tata Power was among the top gainers on the Nifty. The stock jumped nearly 2 per cent to Rs 77 after the company turned profitable in the March quarter compared to loss during the same period last year.

Tech Mahindra, HCL Technologies, TCS, State Bank of India, HDFC Bank, Wipro, Kotak Mahindra Bank, Infosys and ICICI Bank were also among the gainers.

On the other hand, Tata Steel was trading 2.6 per cent lower at Rs 359 ahead of its March quarter numbers which will be announced later in the day.

Bajaj Auto, Idea Cellular, Hindalco, ITC and Coal India were also among the gainers.

At 2:30 p.m., the Sensex was up 189 points at 27,834 and the Nifty advanced 56 points to 8,422. levels.


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