Sensex Ends Above 49,550, Nifty Nears 14,600; IndusInd Bank, TCS Top Gainers

Meanwhile, the wholesale price-based inflation slowed to 1.22 per cent in December due to lowering of food prices, according to government data released on Thursday

Sensex Ends Above 49,550, Nifty Nears 14,600; IndusInd Bank, TCS Top Gainers

UPL, IndusInd Bank and TCSgained 2.9-3.6 per cent each to top gainer's list on the BSE

The BSE Sensex and NSE Nifty indices ended mildly in the green as markets consolidated for the second consecutive session after touching life-time highs on Wednesday morning. Strength in index heavyweights such as IndusInd Bank, TCS, ITC and Reliance Industries was negated by weakness on select information technology counters, post the Infosys and Wipro quarterly results.

The BSE Sensex recovered 400 points from intra-day lows to end the session at 49,584.16, higher by 91.84 points or 0.19 per cent and the NSE Nifty ended at 14,595.60, up 30.75 points or 0.21 per cent. 

Mirroring the movement in the previous session, the BSE Sensex gravitated in a range of 479 points between an intra-day high of 49663.58 and a low of 49182.32 during the day.

Meanwhile, the wholesale price-based inflation slowed to 1.22 per cent in December due to lowering of food prices, according to government data released on Thursday. Inflation based on Wholesale Price Index (WPI) was 1.55 per cent in November 2020 and 2.76 per cent in December 2019.

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UPL, IndusInd Bank and TCS gained 2.9-3.6 per cent each to top the gainer's list on the BSE. Index bellweather stocks such as L&T, Reliance Industries and Hindustan Unilever were the other significant gainers among BSE stocks.

On the other hand, select information technology stocks ended in the red, albeit off the lows of the day, post the results announcements by Infosys and Wipro. HCL Tech, which is due to announce its December quarter numbers on Friday, shed 2.6 per cent at Rs 1,028 on the BSE, while Infosys and Wipro lost around 1 per cent each post their Q3 numbers. Infosys had corrected by more than 5 per cent and Wipro had shaved off over 6 per cent in early trading.

The BSE market breadth was almost equal. Out of 3,183 stocks traded on the BSE, there were 1,501 advancing stocks as against 1509 declines.