Sensex extends gains for second day ahead of IIP, inflation data

 IT and healthcare stocks remained a drag on the indices. File.

 IT and healthcare stocks remained a drag on the indices. File. | Photo Credit: Paul Noronha

Benchmark BSE Sensex gained 130 points on August 12 after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data.

Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22% higher at 59,462.78 in a range-bound trade.

The broader NSE Nifty advanced 39.15 points or 0.22% to close at 17,698.15.

A largely positive trend in global equities and foreign capital inflows also supported the domestic equity markets, traders said.

However, IT and healthcare stocks remained a drag on the indices, they added.

Brokers said investors picked up fundamentally strong stocks ahead of IIP (Index of Industrial Production) and Consumer Price Index (CPI) inflation numbers to be released after market hours on Friday.

NTPC was the top gainer in the Sensex pack, climbing 3.26 per cent, followed by Tata Steel, PowerGrid, ICICI Bank, Reliance Industries, SBI and ITC.

On the other hand, Infosys, Maruti, L&T, Tech Mahindra, Sun Pharma and HUL were among the laggards, sliding as much as 1.56%.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai closed in the red.

Equities in Europe were trading higher in mid-session deals.

Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth ₹2,298.08 crore on Thursday, according to exchange data.

Meanwhile, the international oil benchmark Brent crude was trading 0.40% higher at $100 per barrel.

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Printable version | Sep 29, 2022 6:20:32 am |