Sensex Ends 107 Points Higher, Nifty Settles Above 8,400

Sensex Ends 107 Points Higher, Nifty Settles Above 8,400
3.35 p.m.: Indian markets ended Thursday's range bound session higher as IT, energy and infrastructure shares witnessed buying. The Sensex ended 106.75 points higher taking its winning streak to the third straight day. The Nifty index closed 26.55 points higher, above the psychological 8,400 mark. 

3.00 p.m.: Energy and Infrastructure shares extended gains. The Infrastructure sub-index of NSE was up 2 per cent, while the energy sub-index was 1.1 per cent higher. 

Meanwhile, the Sensex was up 0.35 per cent at 27,236 and the Nifty was up 25 points at 8,405.8. 

2.05 p.m.: Broader indices continue to trade in a narrow range. The Sensex was up 0.33 per cent, or 89 points at 27,230 and The Nifty was up 20 points at 8,400. 

1:03 pm: IT stocks were among the gainers today with Infosys, Tech Mahindra and HCL Tech rising between 1-2 per cent.

"IT companies valuations have come down over concerns related to U.S. H-1B  visas and visa fees. Something was expected to be announced in relation to this by Trump on Wednesday and that did not happen, so the market took the positive cues," said KK Mital, vice president of Venus India.

12:57 pm: Sensex and Nifty held on to gains in the noon session. Nifty was trading near 8400 while Sensex was up around 80 points. Power stocks were in focus with Power Grid, NTPC and Tata Power surging 4-5 per cent. 

11.30 a.m.: Sensex was up 92 points at 27,232 and the Nifty was 22 points higher at 8,402.7. Power Grid was the top gainer in Nifty with 4.8 per cent gain. 

11.20 a.m.: TCS shares erased early gains and were down 0.26 per cent. The IT bellwether will report its earnings for the December quarter later in the day. Analysts polled by NDTV Profit expect TCS's dollar revenue, which is widely tracked by analysts, to rise 0.2 per cent sequentially to $4,461 million compared to $4,374 million in the September quarter. (Read full story here

10.16 a.m.: Sensex trimmed its morning gains after metal stocks came under further selling pressure. The Sensex was up 70 points at 27,210 and the Nifty traded 14 points higher at 8,395. 

The metal sub-index of NSE was down 1.06 per cent. Among Nifty stocks, Power Grid was the top gainer surging 3.74 per cent followed by Infosys and Tech Mahindra, which were up 2.34 per cent and 2.27 per cent respectively. 

9.40 a.m.: Sensex was up 135 points at 27,275 and the Nifty rose 35 points to regain the 8,400 mark as IT stocks extended gains. The Nifty IT sub-index was up 1.43 per cent. Infosys was the top gainer in the IT index, up 2.3 per cent followed by Tech Mahindra. 

9.20 a.m.: Indian shares opened marginally higher on Thursday. The BSE Sensex gained as much as 70 points to 27,212 and the Nifty index was only 3 points away from the 8,400 mark. 

However, pharma shares came under sharp selling pressure after US President-elect Donald Trump on Wednesday said that pharma companies are charging higher prices for their medicines and suggested bidding for government purchases, which will save billions of dollar for the US government. "We are going to start bidding. We are going to save billions of dollars over time," Trump said. 

The pharma sub-index of NSE, Nifty Pharma fell over 2 per cent led by Sun Pharma, Aurobindo Pharma, Dr Reddy's Lab and Lupin, which were down between 1.2-2.2 per cent. 

Meanwhile, IT stocks led gains today and offset the losses in pharma shares. The Nifty IT sub-index of NSE was up nearly 1 per cent. Infosys was the top gainer in Nifty up 2.1 per cent. Tech Mahindra, HCL Tech, TCS and Wipro also gained between 0.5-2 per cent. TCS will report its earnings later in the day. 

9.00 a.m.: Rupee opens higher at 68.15 per dollar against Wednesday's close of 68.32.

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